Russia is the world’s second largest arms exporter

Posted On
Defence & Security News - Russia
 
Russia is the world’s second largest arms exporter
Russia remains the world’s second largest arms exporter after the United States, according to the 2014 annual defense trade report conducted by research company IHS Inc. “Russia had a record year – the country’s arms export in 2014 was $10 billion, a 9-percent increase compared to 2013,” the IHS report said. Largest buyers of Russian arms in 2014 were China ($2.3 billion, €2.1 billion), India ($1.7 billion, €1.6 billion), as well as Venezuela and Vietnam ($1 billion each, €947 million).
     
Russia is the world’s second largest arms exporterSurface-to-Air Missiles remain a big success for Russian arms exports in 2014
     

In 2014, the global defense trade rose for the sixth straight year to a record $64.4 billion. The United States remained the top arms exporter last year, ahead of Russia, France, Britain and Germany, which rounded out the top five. While Russia and Western countries are the main arms exporters, main arms buyers are in the Middle East and Asia. The top-five arms importers in 2014 were Saudi Arabia, India, China, the United Arab Emirates and Taiwan.

HIS analysts warn that in view of the oil price slump and the negative effects of international sanctions Russian weapons exporters should brace for no easy times.
In 2015 export is to slump, as the largest programs are about to be closed down and the sanctions may increase this trend, the report runs.

Last year’s largest weapons importer was Saudi Arabia, which had gone ahead of India, Itar Tass reported. According to the research, last year the world market of weapons was estimated at 64.4 billion dollars in contrast to 56.8 billion dollars a year earlier.