In 2017 Bulgaria Exported 20% More Arms and Munitions

PANAGYURISHTE, Bulgaria (BulgarianMilitary.com) – In Bulgaria’s Parliament, it is about to be considered and adopted, the report of the Interministerial Commission for Export Control and Non-Proliferation of Weapons of Mass Destruction, which makes it clear that the native military industry has exported arms and munitions in 2017 with 20% more than the previous 2016, learned BulgarianMilitary.com.

The official report was presented to Parliament on the last day of the last month and it shows that in 2017 Bulgaria exported weapons and ammunition worth nearly 1,2 billion euro (1,4 USD or 2,35 BGN). According to the Bulgarian Defence Industries Association, about 30 000 workers are currently employed in the military-industrial complex, and in the last years this branch of the Bulgarian economy has stabilized.

Read more: Absurd situation – Bulgaria is ready to spend BGN 311 million for repair of SU-25 (Updated)

BulgarianMilitary.com analysis shows that in the period 2006-2017 the export of Bulgarian arms and ammunition grows on average by almost 17% each year. The most tangible difference in exports is in 2010 when it is 44% more than in 2009.

Officially, it is still unknown who are the main buyers of Bulgarian weapons and ammunition in 2017, but in 2016 these were Saudi Arabia, India, the U.S., Algeria and Iraq, with mostly munitions, projectiles and missiles being exported.

Read more: BDIA Organizes National Conference on Defence Industry

According to the same report, in the past 2017, the ratio “issued licenses-unrealized deals” was the best over recent years. We are talking about the issued 640 export licenses amounting to 1 389 199 342 euro, of which only 170 million euro has not been put into effect.

On the basis of the issued export licenses and the partial media publications, the expectations are that in 2018 the export of Bulgarian ammunition and weapons will decrease compared to 2017.

Signals of this are that the biggest Bulgarian arms trader Kintex has exported weapons in the first half of the year, which is with 45% less than the same period in 2017.

According to unofficial data, VMZ-Sopot has nearly 67% less sales revenue for the first half of the year, compared to 2017, and NITI SHC has 16% fewer sales at the end of June, compared to 2017.

Follow us everywhere and at any time. BulgarianMilitary.com has responsive design and you can open the page from any computer, mobile devices or web browsers. For more up-to-date news from us, follow our Reddit, LinkedIn, Twitter, Facebook and Google+ pages. Do not miss the chance to subscribe to our newsletter.

BulgarianMilitary.com
Source: Defence Talk

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More