Increased Defense Spending in the Middle East

CEIC Macro Watch - February 28, 2014 - Defense spending in the Middle East countries, which traditionally allocate significant shares of their budgets to security, has remained strong during the past year. According to estimates published in November 2013, government defense spending in Saudi Arabia grew by more than 18% per annum in 2013, to more than USD 67 billion. Military expenditure in Israel continued to grow in 2013 at a rate of 5.18% to reach USD 16.3 billion, decelerating only marginally from a 5.57% increase in 2012. Figures as of the end of November show that defense spending in Jordan (USD 2.5 billion) had grown by close to 8.5% over the past 12 months. Oman’s expenditure declined by 3.3% in 2013, to stand at USD 7.5 billion after a significant surge in 2012 (to USD 7.8 billion), the highest in the country’s defense budget allocation for the past two decades. With the high oil prices increasing government revenue over the past few years, it has become possible for Oman to step up defense expenditure, and the Sultanate is now emerging as an attractive market for military suppliers. By Lee Wen Bin in Malaysia - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog
3rd March 2014 Increased Defense Spending in the Middle East

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