Those are nominal figures (i.e. based on exchange rates rather than purchasing power) which tend to overstate real differences in output. In this case the result seems also to overstate Israel's level relative to the other countries, which is something of a mystery, suggesting an exceptionally strong lira (the shekel's predecessor): note the big drop on paper in 1961-62, which doesn't seem to be reflected in real output.

But Israel was indeed ahead of developing countries generally. Long considered an economic backwater despite its Biblical fame, Palestine had been well-placed to take part in the late 19th-century expansion of Mediterranean trade as European demand for exotic produce grew. Jewish immigration from the 1880s brought in both skilled labour and investment, the latter supplemented by the inter-war British Mandate administration's infrastructure improvements. By the mid-1930s the territory was already ahead of its neighbours, with most of the advance in Jewish-settled districts, and there was further growth during and immediately after WW2.

But there's another important element in the resource windfall delivered by the flight of 720,000 Palestinians in 1948, which eased the settlement of 900,000 immigrants in the new state's first dozen years: West German reparations agreed in 1952 also helped with settlement and development, though payment was spread over the next 14 years.