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As the world's biggest arms supplier, the United States made arms sales agreements valued at US$12.1 billion in 2001, accounting for nearly 46 percent of the overall global arms sales, a US congressional study shows.
Russia remained second in arms sales, concluding arms deals valued at US$5.8 billion in 2001, according to the annual report prepared for Congress by the Congressional Research Service and handed over this week.
The total value of global arms sales agreements in 2001 was US$26.4 billion, down from US$40 billion in 2000, the first year-to-year decline since 1997. Arms sales to developing countries reached their lowest level in eight years, of US$16 billion, in 2001 due to the global economic downturn, the study concluded.
The continuing effects of the Asian financial crisis in the late 1990s and fluctuations in crude oil prices in recent years have constrained weapons purchase by many developing countries, the study said.
A number of developing nations have chosen to upgrade existing weapons systems and defer purchases of more advanced and expensive arms.
But the United States and Russia could see notable weapons sales deals with the Middle East, Asia and Latin America in the coming years if the international economy improves, the study said.
(Xinhua News Agency August 9, 2002)
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