Israel Q3 account surplus narrows

The Bank of Israel forecasts the surplus will fall to 1.8% of gross domestic product this year from 3.2% in 2007.

Israel's current account surplus narrowed in the third quarter from a year earlier. The current account surplus fell to a preliminary $469m. from $561m., the Central Bureau of Statistics said on Tuesday. The trade deficit in goods and services narrowed to $993m. from $1.37 billion over the same period in 2007, it said. The country's five-year-old current surplus has started to narrow as the slowing world economy cools demand for exports. The Bank of Israel forecasts the surplus will fall to 1.8% of gross domestic product this year from 3.2% in 2007.