Russian arms sales reach $15 billion in 2012
22 Jan 2013
Russia sold $15 billion worth of defence equipment in 2012, maintaining its position as the world's second-largest arms exporter after the US, Ria Novosti reported yesterday.
''The volume of arms exports has reached $15.16 billion, according to preliminary calculations, which means that our plans have been fulfilled by 111.8 per cent,'' chief of Russia's Federal Military Technical Cooperation Service (FSMTC) Alexander Fomin told a government meeting Monday.
The 2012 arms sales are 15 per cent higher than the figure of $13.2 billion in 2011.
"In the past 10 years, we have seen a general increase in exports, which have tripled since 2003,'' Fomin said.
He further stated that Russian arms manufacturers currently have orders worth over $46 billion to be fulfilled in the coming years.
India is Russia's largest arms purchaser as defence cooperation has been the basis of India-Russia relations.
