The Bank of Israel published Israel’s International Investment Position (IIP) for the first quarter of 2025, showing a larger net asset surplus vis-à-vis the rest of the world. Gross liabilities to nonresidents fell by about USD 1 billion (0.2 percent) to around USD 553 billion, while residents’ assets abroad rose by about USD 3.3 billion (0.4 percent) to about USD 779 billion, lifting the net surplus by USD 4.2 billion (1.9 percent) to roughly USD 226 billion. Nonresidents made net investments in Israel, mainly in tradable securities, but these inflows were fully offset by price declines in Israeli securities held by nonresidents. The increase in residents’ foreign assets was driven by net investments abroad and a weaker US dollar against other currencies, partly offset by falling prices of foreign securities held by Israeli residents. The net surplus in debt instruments (negative net external debt) increased by about USD 5.8 billion (2.1 percent) to approximately USD 285 billion, and the gross external debt-to-GDP ratio declined by about 0.4 percentage points to around 27 percent at the end of March.