US Leads International Arms Trade

1 October 2007 (Last Updated October 1st, 2007 07:22)

The United States is continuing to lead the world's arms trade, controlling almost 42% of the market, according to a recent congressional report. The Congressional Research Service's annual survey of international arms sales places the US as first in international arms transfer agreemen

The United States is continuing to lead the world's arms trade, controlling almost 42% of the market, according to a recent congressional report.

The Congressional Research Service's annual survey of international arms sales places the US as first in international arms transfer agreements for 2006, with a value of $16.9bn and a 41.9% market share.

Russia's sales increased by $1.2bn, with a total of $8.7bn – 21.6% of the market.

Despite some countries enjoying growth, the overall volume of weapons trade worldwide has shrunk by almost 13%, declining from $46.3bn in 2005 to $40.3bn last year news agency AFP reports.

France, Britain, Germany and Italy saw the collective value of their arms agreements with developing nations drop by half – from $10.9bn in 2005 to $5.5bn in 2006.

By Elizabeth Clifford-Marsh