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.
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