Defense equipment and arms exports from Israel to reach $7 billion in 2012 1101134.

One of the biggest deals taken into account in the estimate is a 1-billion-dollar arms deal signed with Italy, according to which Israel bought new training jets from the Italian Air force and in exchange Italy purchased two Israeli air control aircraft as well as an observation satellite.

Most of Israel's exports, mainly weapons, are sold to the United States and European countries, as well as Southeast Asia and South America.

Last week, during a meeting of defense ministry officials, the ministry's director-general Udi Shani said an increase in weapons sales with Azerbaijan, Poland, Vietnam and Brazil is expected in 2013.

Israel is considered to be one of the top arms exporters in the world, fluctuating between the fourth and sixth spot of the countries which export most weapons in the world.

According to a report issued by the U.S. Congressional Research Service in August, Israel's arms exports between 2004 and 2011 culminated with sales worth 12.9 billion dollars.