Spanish defence exports grow

03 March 2015

Spanish defence industry revenue rose 4.3% in value over the previous year to EUR5.2 billion (USD5.8 billion) in 2014, thanks to the nearly 81% of sales destined for foreign markets, according to a report by the Ministry of Defence's Directorate General for Armaments and Materiel (DGAM).

Exports outperformed imports by almost two to one, while the industry's home market continued to decline. Domestic sales fell for the fifth successive year to reach the levels of 1998.

Still suffering from the drastic reduction in government spending in recent years, the home market managed to keep fractionally above the EUR1 billion mark, although down by EUR353 million on the previous year.

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