Israel arms exports reached record $14.7 billion in 2024

Israeli arms exports reached a new record last year despite the ongoing war in Gaza.

The Israeli Defence Ministry said exports topped $14.7 billion in 2024, a 13% increase from the previous year.

The ministry saw its fourth consecutive record-breaking year of arms exports, which have "more than doubled over the past five years."

More than half of the defence agreements were concluded with European countries, according to the statement. In 2023 European orders accounted for 23% of the total deal volume.

Germany has purchased the long-range Arrow 3 missile defence system from Israel.

The ministry said that the war in Gaza, which broke out in October 2023, has led to technological breakthroughs for Israeli defence companies.

"The world sees Israeli strength and seeks to be a partner in it," Defence Minister Israel Katz said in a statement.

"We will continue strengthening the IDF and the Israeli economy through security innovation to ensure clear superiority against any threat – anywhere and anytime,” Katz added.