Israel's defense industries reported $4.3 billion sales in January-October, "Defense News" reports. The magazine says government and defense industry officials expect sales for 2008 as a whole to reach $5 billion and possibly even higher.
This is an impressive figure, but it falls short of the record $5.6 billion in arms sales by Israeli defense industries in 2007. However, it is still more than the $4.8 billion in sales for 2006.
According to Ministry of Defense estimates, only 15% of the defense industries' sales are to the local market, meaning the IDF. The fact that 85% of sales are to foreign customers places Israel in the ranks of the world's top ten arms exporters.
According to figures released by the US Congressional Research Service, Israel was the seventh largest arms exporter during the period 2000-2007 with sales worth an aggregate $10.8 billion. The US topped the rankings with an aggregate $123 billion in sales, followed by Russia with $62.2 billion, France - $29.2 billion, the UK - $25.2 billion, Germany - $12.6 billion, and China - $10.8 billion. In eighth place behind Israel, came Italy with $6.5 billion, followed by Spain with $6.5 billion, and Ukraine with $5.5 billion.
However, Ministry of Defense figures estimate Israel's total exports in 2000-2007 nearer to $29.7 billion, a figure which places Israel in fourth place behind Russia, France and the US. One of the reasons for the discrepancy in figures is the Defense Ministry's policy of including upgrades and other services in its calculations.
Published by Globes [online], Israel business news - www.globes-online.com - on December 10, 2008
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