Gas Week

EWN Publishing

US leads world arms trade, holds 42 per cent of the market: wars in Iraq and Afghanistan prompted a weapons shopping spree

Posted by gasweek on 9 October, 2007

The US reaffirmed its leadership in world arms trade last year, cornering nearly 42 per cent of the market as the wars in Iraq and Afghanistan prompted a weapons shopping spree among neighbouring nations. 

The figures were contained in a congressional report released lats week. But the overall volume of weapons trade shrank almost 13 per cent, dealing a blow to France and other Western European suppliers which faced facing stiff competition from across the Atlantic. The Congressional Research Service said the US ranked first in international arms transfer agreements last year, concluding $US16.9 billion ($19 billion) worth of them around the world and securing 41.9 per cent of the market. The total was a $US3.4 billion increase over 2005.

The Courier Mail, 2/10/2007, p. 31

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