The arms sales of Turkish companies rose by 24 percent in 2017, according to a report released on Dec. 10 by the Stockholm International Peace Research Institute (SIPRI).
Bulgaria's booming arms trade continued to grow in 2017 with arms and ammunitions exports topping €1.2 billion ($1.4 billion), an official report showed on Wednesday, October 31, reports The Defense Post.
Conflicts in the Middle East have boosted Bulgaria's arms sales in recent years to levels not seen since the fall of communism in 1989.
After the US on Thursday placed arms dealer Slobodan Tesic on a global blacklist among a host of figures named as human rights abusers and corrupt actors, and after calling him "one of the biggest arms dealers in the Balkans", Serbia's Ministry of Trade said it will take such sanctions into account.
Arms sales by the world's top 100 arm producers rose 1.9 percent in 2016, the first year of growth in five years, with the U.S. and Western Europe taking an over 82 percent share, according to an international survey released on Dec. 11.
Bulgaria's arms exports reached unprecedented volumes in 2016, with the total value of the deals surpassing one billion euros, the annual report by the state commission for export control shows.
The state approved 595 export licences worth nearly 1.3 billion euros, from which deals worth 1.015 billion euros were realised.