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Russia sold arms worth $14 bn in 2012

Last Updated: Monday, December 17, 2012 - 18:53

Moscow: Russia`s overseas arms sales exceeded $14 billion this year, outperforming forecasts by more than $500 million, President Vladimir Putin said Monday. India, Vietnam, Myanmar and Venezuela are the leading buyers of Russian arms.
The country`s defence industry also sealed export contracts worth another $15 billion in 2012, Putin said.

But Russia should work to expand its range and strengthen its position on the market for the maintenance and modernisation of military equipment, the president told a governmental commission on the defence industry.

The Russian Federal Service for Military and Technical Cooperation had forecast arms exports in 2012 would stand at $13.5 billion.

Russia reported arms sales of $13.2 billion in 2011, enough to maintain its position as the world`s second arms exporter after the US. The US Defense Security Cooperation Agency reported overseas arms sales of $34.8 billion last year.

India is the leading purchaser of Russian arms, with Vietnam, Myanmar, Venezuela and countries of the Middle East also figuring among main clients of the Russian defence industry.


First Published: Monday, December 17, 2012 - 18:53

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