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Approvals for German arms exports down almost 50 pct in H1

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Approvals for German arms exports down almost 50 pct in H1

Export approvals for military equipment from Germany in the first half of 2020 decreased by almost 50 percent year-on-year, according to preliminary figures published by the Federal Ministry for Economic Affairs Wednesday.


Government approvals for military exports worth 2.78 billion euros (3.13 billion United States dollars) were issued in the first six months, compared to 5.33 billion euros approved during the same period last year, according to the ministry.

Almost 40 percent of approved German military equipment exports were deliveries to EU/NATO and NATO-equivalent countries.

Most approved arms exports, or 1.74 billion euros, were granted to non-European “third countries.” Export values had been driven by “major orders for the maritime sector” such as submarines and ships, said the ministry.

With an approved order volume of 533 million euros, Israel was the biggest customer of German military equipment in the first six months, followed by Egypt and the United States, according to the ministry.

(XINHUA)

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