The current account surplus in Israel narrowed sharply to USD 0.795 billion in the second quarter of 2018 from USD 2.354 billion in the corresponding period of the previous year. The secondary income surplus fell to USD 1.847 billion from USD 2.027 billion in the April to June period of 2017. Also, the goods and services account recorded a trade deficit of USD 0.721 billion compared to a USD 1.511 billion surplus a year earlier while the primary income shortfall decreased to USD 0.33 billion from USD 1.184 billion. Current Account in Israel averaged 362.34 USD Million from 1975 until 2018, reaching an all time high of 4600.80 USD Million in the third quarter of 2015 and a record low of -1750.20 USD Million in the second quarter of 1994.
Current Account in Israel is expected to be 1775.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Israel to stand at 1701.00 in 12 months time. In the long-term, the Israel Current Account is projected to trend around 1650.00 USD Million in 2020, according to our econometric models.