The New York Times reports: The United States again ranked first in global weapons sales last year, signing deals for about $40 billion, or half of all agreements in the worldwide arms bazaar, and far ahead of France, the No. 2 weapons dealer with $15 billion in sales, according to a new congressional study.
Developing nations continued to be the largest buyers of arms in 2015, with Qatar signing deals for more than $17 billion in weapons last year, followed by Egypt, which agreed to buy almost $12 billion in arms, and Saudi Arabia, with over $8 billion in weapons purchases.
Although global tensions and terrorist threats have shown few signs of diminishing, the total size of the global arms trade dropped to around $80 billion in 2015 from the 2014 total of $89 billion, the study found. Developing nations bought $65 billion in weapons in 2015, substantially lower than the previous year’s total of $79 billion.
The United States and France increased their overseas weapons sales in 2015, as purchases of American weapons grew by around $4 billion and France’s deals increased by well over $9 billion.
The report, “Conventional Arms Transfers to Developing Nations, 2008-2015,” was prepared by the nonpartisan Congressional Research Service, a division of the Library of Congress, and delivered to legislators last week. The annual review is considered the most comprehensive assessment of global arms sales available in an unclassified form. The report adjusts for inflation, so the sales totals are comparable year to year. [Continue reading…]