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Israel military exports were $7.5 billion in 2018, down 18%

April 17, 2019 10:22 AM

JERUSALEM (AP) — Israel's Defense Ministry says the country's military exports were $7.5 billion last year, down 18% from the previous year.

The ministry said on Wednesday that despite the drop, the 2018 figures were a "major success" and the second-highest level in the past decade.

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It said the $9.2 billion of defense exports in 2017 were "out of the ordinary" but was unable to explain the drop in 2018, saying only that the global market is "dynamic."

The largest share of Israel's exports consisted of missiles and air defense systems. Unmanned aerial vehicles, radar systems and ammunition also represented crucial exports.

Nearly half of Israel's sales went to the Asia and the Pacific region.

Israel is the world's eighth-largest arms exporter, according to the Stockholm International Peace Research Institute.

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(Copyright 2019 by The Associated Press. All Rights Reserved.)

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