18.08.2012 - Oslo

Defense Spending in Norway

New Defense market report from MarketLine shows that defense spending will decelerate in Norway until 2016.

Photo : ERNEST SEALING | Defense spending covers capital items, military personnel, government defense agencies, and related expenditure on defense and peacekeeping.

Keep Updated with the Latest News and Feeds, Follow Us on Facebook

Latest News

Accoring to the the report, Norwegian defense spending had a total budget allocation of $7 billion in 2011, representing a compound annual growth rate (CAGR) of 3.3% between 2007 and 2011.

The report also reveals that the number of personnel employed in the defense sector increased with a CAGR of 2.5% between 2007 and 2011, to reach a total of 21 thousand personnel in 2011, While defense spending is forecast to decelerate, with an anticipated CAGR of 1.3% for the five-year period 2011 - 2016, which is expected to increase spend to a value of $7.5 billion by the end of 2016.