Macroeconomic Forecast Israel

September 2008 | Macroeconomic Forecasts

Israeli exports were up by 23.5% y-o-y in June 2008, suggesting that the export sector has not yet felt the impact of US economic woes. We believe that export growth will start to slow in the second half of the year and are forecasting full-year growth to be in low single figures. We expect the current account surplus to decline to 1.7% of GDP in 2008 and 1.2% in 2009, compared with a 2007 figure of 2.9%.

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