Russia exports USD 14bn worth of weapons.

By bne IntelliNews December 18, 2012
President VladimirPutin estimated that in 2012 Russia's military equipment and weapons exports will be about USD 14bn, which is over the target that was set at USD 13.5bn. Putin also added that in 2012 USD 15bn worth of new contracts were closed. Putin welcomed the results and welcomed increased competitiveness of Russian military exports and suggested that Russia should invest more in repair and modernisation of weapons sold in the past, as back as in the Soviet times. In 2011 Russia exported USD 13.2bn worth of weapons and military equipment, according to Federal Service of Military Cooperation, out of which 25% to was exported to India, 15% to Algeria, "considerable" shares to Venezuela and Vietnam. Most of the exports accounted for military aviation, followed by naval equipment, ground forces' equipment, and anti-missile system. 81% of military supplies went through RosOboronExport government agency. RBC cites expert surveys in estimating that in 2012-2015 aggregate imports of three largest weapons importers (India, Saudi Arabia, and UAE) will amount to USD 84.22bn or 31% of global military trade, with India alone accounting for USD 6.9bn or 9.83% of global trade.

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