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Israel's current account surplus totaled $19.8 billion in 2022, said the country's Central Bureau of Statistics.

This is a decrease of $1.6 billion compared to the surplus registered in 2021, and of $2.9 billion compared to 2020, it said in an annual balance of payments report on Sunday.

The decrease in last year's surplus includes a $4.4-billion increase in the goods trade deficit. However, it was offset by an increase of $2 billion in the services trade surplus and an $800-million rise in the income account, which includes salaries, investments and assets.

The surplus in the goods and services trade account amounted to $17 billion in 2022, following a surplus of $19.4 billion in the previous year, Xinhua news agency reported.

The current account balance includes the transactions of Israeli residents with foreign sides in the trade of goods and services, as well as income from financial investments, compensation of employees, and current transfers.