Israeli students came 18th of 42 countries in the latest Trends in International Mathematics and Science Study, up from 25th in the last test in 2007. In math alone, scores went up from 24th in 2007 to 7th in 2011 and top of the western world. In reading, Israel is now 18th (was 31st).
http://www.timesofisrael.com/israeli-students-ranked-seventh-highest-in-math-worldwide/