Home Business €11.71 Billion Bonanza: German Arms Exports Hit All-Time High

€11.71 Billion Bonanza: German Arms Exports Hit All-Time High

According to information obtained by the German news agency DPA from the Ministry of Economy in response to a question posed by Sevim Dagdelen, a member of the Sarra Wagenknecht group, the value of German arms exports increased by forty per cent as of the middle of December 2023, reaching an all-time high of eleven and seventy-one billion euros.

Midway through December, the German government approved the export of weapons worth a minimum of 11.71 billion euros, an all-time record. Twenty-five per cent of the previous peak, reached in 2021 and was 9.35 billion euros, was surpassed. According to the DPA, the growth is a significant forty per cent increase compared to the previous year.

The total amount of authorised weapons exports that Ukraine received was 4.15 billion euros, more than one-third of the total. In that order, Norway (327.9 million euros), Hungary (1.03 billion euros), the United Kingdom (654.9 million euros), and the United States of America (545.4 million euros) are the countries that have contributed financially after Ukraine.

Israel is currently in seventh place, and Germany has granted permission for the transfer of weaponry to Israel, which is valued at a total of 323.2 million euros. This sum has increased by more than tenfold compared to the previous year. This is because a significant number of shipments were allowed following the attack that HAMAS carried out on October 7th.

Authorisations for the exportation of weaponry with a value of 8.362 billion euros were issued by the German government in 2022, as stated in a report published by the German Ministry of Economy a week ago. Significantly, Ukraine received a quarter of this total amount.

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