Global arms trade shrinks by 3.3% in 2019-2023

World
Tue, 12 Mar 2024 7:40 GMT
France surpassed Russia as world's 2nd-largest arms supplier, with 47% increase in arms exports over last 5 years.
Global arms trade shrinks by 3.3% in 2019-2023

The volume of the international arms trade contracted by 3.3% between 2019 and 2023 compared to the preceding five-year period, according to a report released on Monday.

However, during the same period, major arms imports into European countries increased by 94%, the Stockholm International Peace Research Institute said in its report.

"There were overall decreases in arms transfers to all other regions, but states in Asia and Oceania and the Middle East continued to import arms in much larger volumes than those in Europe," the institute stated.

The report showed that the top three arms importers were India, Saudi Arabia and Qatar, while Ukraine was the fourth largest one.

Ukraine's share of global arms imports rose by 6,633% in 2019-2023 versus the previous five-year period.

Pakistan, Japan, Egypt, Australia, South Korea and China were other top 10 importers in the five years.

Exporters

US arms exports increased by 17% between 2014–18 and 2019–23, while Russian armaments exports fell by 53%.

The US share was 42% in the global arms exports in the last five years.

France has surpassed Russia as the world's second-largest arms supplier, with a 47% increase in arms exports over the last five years.

China, Germany, Italy, the UK, Spain, Israel and South Korea were other top 10 countries.

Meanwhile, Türkiye's share of the global arms export market increased from 0.7% to 1.6%, or 106%, making it the 11th largest supplier.

AA

Related News

MILLET MEDIA OE.
BİLAL BUDUR & CENGİZ ÖMER KOLLEKTİF ŞİRKETİ.
Address: Miaouli 7-9, Xanthi 67100, GREECE.
Tel: +30 25410 77968.
Email: info@milletgazetesi.gr.