French arms exports halved in 2017, Mideast clients still biggest

Image
AFP Paris
Last Updated : Jul 03 2018 | 1:15 AM IST

French weaponry exports fell sharply last year in the absence of major deals to sell new Rafale fighter jets, with Middle Eastern clients again making up the bulk of the orders, the defence ministry said today.

In its annual report to parliament, the ministry said the value of exports dropped to 6.9 billion euros (USD 8 billion) from 14 billion euros the previous year and the record 17 billion euros booked in 2015.

Those two years saw the first big export orders for Rafale jets made by Dassault Aviation -- to Egypt, Qatar and India -- following a string of failed efforts to sell the planes outside France.

But France, the world's third-biggest arms exporter after the US and Russia, will book an additional 12 Rafale sales to Qatar this year.

"The results from 2017, with 6.9 billion euros, is in line with the average from years before the Rafale contracts," the ministry said.

It added that helicopters and missiles made up nearly half of last year's foreign orders.

Orders from Middle East clients rose to 3.9 billion euros from 1.9 billion in 2016, despite an economic slowdown stemming from lower oil prices "which delayed some acquisition projects," the ministry said.

NGOs and other critics have assailed France for supplying weapons to Mideast governments, in particular Saudi Arabia and the United Arab Emirates over their support for pro-government forces in Yemen fighting Huthi rebels.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 03 2018 | 1:15 AM IST

Next Story