Globes: Israel Among Top Five Growing Markets

Israel has risen 12 places in an international listing to become the world 36th largest economy. So reports Globes, based on a survey by “The Economist.”

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Hillel Fendel, | updated: 13:42

The survey graded nations' economies in the years 2001-05 as compared with 20 years earlier. Israel, it was found, jumped 12 slots, raising it from the world’s 48th biggest economy in 1980-84 to the 36th largest in 2001-05. Globes reported that the Economist survey ranked economies on the basis of their five-year average GDP in current dollars.

The four fastest climbing national economies are all in Asia: Singapore rose 20 places to become the 39th largest economy, still three slots behind Israel; Taiwan rose 14 places to become #18; and both South Korea and Hong Kong rose 12 places, just like Israel, to become numbers 11 and 30, respectively.

China rose four notches to slot #6, while oil-producing Venezuela fell 12 places and is now #37. Iran plunged 16 places to 33, and Saudi Arabia fell from 15th place to 22nd.