US retains top position as arms supplier
Tuesday, 8 September 2009
From Fazle Rashid
NEW YORK, Sept 07: The United States, despite a minimal decline in the global arms sales due to recession, retained its number one position as world's leading weapons supplier and the United Arab Emirates (UAE) became the number one buyer in the 2008. There is no cogent reason for arms build-up in the UAE with no apparent enemy on sight.
The American sales of arms surged to $37.8 billion, which is 68.4 per cent of all business in the global arms bazaar, up significantly from $25.4 billion the year before, the New York Times (NYT) reported today. Italy took the second slot with $3.7 billion in worldwide weapons sales in 2008 and Russia took the third position with $3.5 billion in arms sales in 2008 down from a hefty $10.8 billion in weapons deals in 2007.
The total value of global arms sales in 2008 was $55.2 billion a drop of 7.6 per cent from 2007. This was the lowest total for international weapons sales since 2005. The overall decline in weapons sales worldwide in 2008 can be explained by the reluctance of many nations to place new orders for, the NYT quoted Richard Grimmett, a specialist in international security, as saying.
In the highly competitive global arms market, nations vie for both profit and political influence through weapons sales particularly to developing countries which remains the primary focus of foreign arms sales activity by weapons supplier, Grimmett added. Weapons sales to developing nations reached $42.2 billion in 2008 from $41.1 billion the previous year.
The United States was the leader not only in arms sales to the nations in the developing world signing $29.6 billion in weapons agreement or 70.1 per cent of all such deals. The US sold air defence system to the UAE at a cost of $6.5 billion, and concluded a deal for jet fighter with Morocco at a price of $2.1 billion and a $2.0 billion attack helicopter deal with Taiwan which is sure to annoy China.
The other major buyers of the US weapons in 2008 were India, Iraq, Saudi Arabia, Egypt, South Korea and Brazil. China and India continues to be the major buyers of Russian arms and it is extending its market to South American nations. A major absentee of weapons buyer was Pakistan.
NEW YORK, Sept 07: The United States, despite a minimal decline in the global arms sales due to recession, retained its number one position as world's leading weapons supplier and the United Arab Emirates (UAE) became the number one buyer in the 2008. There is no cogent reason for arms build-up in the UAE with no apparent enemy on sight.
The American sales of arms surged to $37.8 billion, which is 68.4 per cent of all business in the global arms bazaar, up significantly from $25.4 billion the year before, the New York Times (NYT) reported today. Italy took the second slot with $3.7 billion in worldwide weapons sales in 2008 and Russia took the third position with $3.5 billion in arms sales in 2008 down from a hefty $10.8 billion in weapons deals in 2007.
The total value of global arms sales in 2008 was $55.2 billion a drop of 7.6 per cent from 2007. This was the lowest total for international weapons sales since 2005. The overall decline in weapons sales worldwide in 2008 can be explained by the reluctance of many nations to place new orders for, the NYT quoted Richard Grimmett, a specialist in international security, as saying.
In the highly competitive global arms market, nations vie for both profit and political influence through weapons sales particularly to developing countries which remains the primary focus of foreign arms sales activity by weapons supplier, Grimmett added. Weapons sales to developing nations reached $42.2 billion in 2008 from $41.1 billion the previous year.
The United States was the leader not only in arms sales to the nations in the developing world signing $29.6 billion in weapons agreement or 70.1 per cent of all such deals. The US sold air defence system to the UAE at a cost of $6.5 billion, and concluded a deal for jet fighter with Morocco at a price of $2.1 billion and a $2.0 billion attack helicopter deal with Taiwan which is sure to annoy China.
The other major buyers of the US weapons in 2008 were India, Iraq, Saudi Arabia, Egypt, South Korea and Brazil. China and India continues to be the major buyers of Russian arms and it is extending its market to South American nations. A major absentee of weapons buyer was Pakistan.