Strong fundamentals (CA surplus and FDI) remain shekel supportive

ISRAEL - In Brief 17 Dec 2024 by Jonathan Katz
The current account improved in the 3rd quarter of 2024 reaching 5.5bn USD (SA) from 4.9bn in the previous quarter and 5.6bn in the 1st quarter. The net trade/service balance increased to 5.0bn from 4.2bn. Foreign direct investments in Israel reached 5.6bn in Q3 from 6.3bn in Q2. Portfolio investments of foreigners into Israel was a positive 3.0bn after reflecting net outflows since the end of 2022. Israel’s strong fundamentals of a current account surplus (25bn USD the last four quarters, 4.8% of GDP) and FDI supports a strong shekel.

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