Greece Defence and Security Report Q2 2014

Date: April 2, 2014
Pages: 77
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download
ID: G9E0F30706EEN

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Includes 3 FREE quarterly updates

BMI expects Greece to spend up to US$5.7bn on defence in 2014. Between 2010 and 2013 we calculate that Greece has spent about US$6.6bn on defence on average annually during this period. For the remainder of the forecast period (2015-2018) we expect Greece to spend on average US$5.7bn on defence annually. We expect Greece to complete the forecast period spending up to US$5.9bn annually on defence in 2018. Despite the country's current serious economic problems, Greece is unusual as one of the members of NATO that routinely spends above the alliance's non-binding 2% of GDP defence spending target. Between 2010 and 2013, Greece spent an average of 2.5% of its GDP on defence. From 2015, we expect the proportion of its GDP which Greece spends on defence to decline slightly to an annual average of 2.4%.

Greece maintains a total of three armed forces: the army, air force and navy. Over the period from 2003 until 2011, Greece has maintained an average combined armed forces personnel size of 133,300. BMI has observed that Greece mostly maintained a negative defence trade balance between 2010 and 2013. We expect the defence trade balance to move into Greece's favour for the remainder of the forecast period. By 2017 and 2018 we expect Greece to have a defence trade surplus of US$7.1mn and US$9.2mn respectively.
BMI Industry View
Greece Defence SWOT
Greece Security SWOT
Business Environment
Industry Forecast
Defence Expenditure
  Table: Defence Expenditure
  Table: Defence Expenditure Scenario - Changing % Of GDP, 2010-2018 (US$mn)
Armed Forces
  Table: Armed Forces ('000 personnel, unless otherwise stated)
  Table: Manpower Available For Military Service, 2010-2018 (aged 16-49 unless otherwise stated)
Defence Trade
  Table: Defence Trade Balance (US$mn)
  Table: Defence Exports (US$mn)
  Table: Defence Imports (US$mn)
Macroeconomic Forecasts
  Table: Greece - Economic Activity
Industry Risk Reward Ratings
Europe Security Risk Ratings
  Table: Europe Regional Security Risk Ratings
  Table: Europe State Vulnerability To Terrorism Index
Greece Security Risk Ratings
Market Overview
Greece Defence Market Overview
Armed Forces And Government Spending
Industry Trends And Developments
Weapons Of Mass Destruction
Domestic Defence Industry
Greece Security Overview
Domestic Threats
Regional Threats
International Threats
Company Profile
Hellenic Defence Systems
Intracom Defense Electronics
Regional Overview
Europe Security Overview
Global Industry Overview
Global Political Outlook
  Table: Election Timetable, 2014
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Rating Methodology
Sector-Specific Methodology
  Table: Security Risk/Reward Ratings Indicators
  Table: Weighting Of Indicators
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