WORLD Ukraine sells arms for nearly 1.5 bln USD in 2018

WORLD

Ukraine sells arms for nearly 1.5 bln USD in 2018

Xinhua

13:32, August 07, 2019

KIEV, August 7 (Xinhua) - The Ukrainian Defense Industry, a state concern of arms production, received 37.6 billion Ukrainian hryvnias (1.47 billion U.S. dollars) of net income from its products sales last year, the conglomerate said in a statement published on Tuesday.

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A visitor aims with a rifle on display at the exhibition "Arms and Security" in Kiev on October 10, 2018. (File photo: VCG)

"This figure is 32% higher than the data of 2017. Some of the branches gave the growth of more than 100%," read the statement.

It also said the net revenue from the production of precision weapons and ammunition increased from 2.7 billion Ukrainian hryvnias (105.6 million U.S. dollars) in 2017 to 5.8 billion (226.8 million U.S. dollars) in 2018, and the armored vehicle industry's revenue grew from 5 billion Ukrainian hryvnias (195.5 million U.S. dollars) to 6.44 billion (251.8 million U.S. dollars).

According to the data, in 2017, the total net profit of the participating companies amounted to 1.5 billion Ukrainian hryvnias (58.6 million U.S. dollars) and the total net income was 28 billion Ukrainian hryvnias (1.1 billion U.S. dollars).

The state-owned association includes over 130 Ukrainian defense industry enterprises.

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