The Economist ranks Israel 4th among 29 emerging world markets in terms of growth projections for 2004. The report, published on June 6, expects Israel to reach $21,0000 GDP per capita, in terms of purchasing power parity (PPP). Among emerging economies, only Singapore, Taiwan and Hong Kong outrank Israel, with GDP per capita of $23,000 - 28,000. Israel's GDP per capita, in terms of PPP, was 84% higher than Poland's, 375% higher than China's, and 750% higher than India's.
The Economist listed a series of economic indicators showing rapid growth in Israel, such as GDP - now growing at 3.9% a year, well above previous estimates by Israeli and international bodies. Industrial production has also surged by an annualized 10.9% since the beginning of the year.