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The UK was the top global defence exporter in 2007, winning a UK record £10 billion ($19bn) of new business and a 33% market share, according to figures announced by UK Trade & Investment’s Defence and Security Organisation (UKTI DSO) today.
Commenting on the figures, Lord Digby Jones, Minister for Trade and Investment said, “As demonstrated by this outstanding export performance, the UK has a first class defence industry, with some of the world’s most technologically sophisticated companies. Along with colleagues in UKTI DSO, I look forward to working with the defence sector in future to ensure its continued success.”
The Middle East and North America remained the UK’s most profitable regional markets, with Saudi Arabia and the USA respectively the top customers. Orders for Typhoon in Saudi Arabia and Offshore Patrol vessels for Oman and Trinidad and Tobago played an important part in this year’s success.
The 2007 world market (reported in dollars) followed a trend of gradual increases over the last few years that could be the result of several factors: operations in Iraq and Afghanistan; greater spending on Homeland Security; the increase in unit cost of equipment and services; the improvement in Russia’s export performance; and a return to higher spending in the Middle East.
The top global exporters over the last five years, based on cumulative export values, are the United States with $63bn, the UK ($53bn), Russia ($33bn), France ($17bn), and Germany and Israel with ($9bn).
Comparatively, on imports over the last five years, Saudi Arabia has imported the most ($31bn); India second ($18bn); the US ($17bn), and three countries – Australia ($11bn), Canada ($10bn) and Pakistan – ($6bn) moving up the import rankings.
Over the last five-year period, there was significant growth in import procurement in the Middle East regional market, closing the gap with Asia and Europe.
The UK has performed best in the Middle East and North America – especially the United States – where it wins more business there than any other exporter.
UK Trade & Investment is the UK Government's international business development organisation, supporting businesses seeking to establish in the UK and helping UK companies grow internationally.
UK Trade & Investment
