Trade: Turkey's arms exports up 20% hitting USD 1.5 billion

12 December, 14:06

    (ANSAmed) - ANKARA, DECEMBER 12 - Turkey's defense exports for the first 11 months of 2014 increased by 20% compared to the same period last year, hitting USD 1.5 billion, Anadolu Agency reports quoting figures from the Turkish Exporters’ Assembly released yesterday. The U.S. was the largest purchaser of Turkish defense hardware at a total of USD 508 million. Other major markets were Malaysia at USD 109 million and the United Arab Emirates at around USD 87 million. Items exported by Turkey include aircraft, helicopter parts, engines, armored land vehicles, speed boats, missiles, rockets, launching platforms, light weaponry and electronic systems, including transmitters, simulators, sensors and military software. The defense industry products make up slightly over 1% of Turkey's total exports, which were valued at USD 144 billion for the January to November period. Turkish exports in the defense and aviation industries reached USD 1.39 billion in 2013. Local defense producers aim to boost exports to USD 25 billion by 2023, Turkey's undersecretary for defense industries Ismail Demir said in late November.

    Turkish officials have often said that boosting the country's defense industry exports was one of the government's strategic goals. Ankara spent over USD 1 billion on defense, research and development in 2013. The country's overall defense spending was 29.4 billion Turkish Liras, or USD 13.2 billion, this year, according to the Defense Ministry. (ANSAmed).

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