U.S. Arms Sales Make Up Most of Global Market

[alp227]

Weapons sales by the United States tripled in 2011 to a record high, driven by major arms sales to Persian Gulf allies concerned about Iran’s regional ambitions, according to a new study for Congress.

Overseas weapons sales by the United States totaled $66.3 billion last year, or more than three-quarters of the global arms market, valued at $85.3 billion in 2011. Russia was a distant second, with $4.8 billion in deals.

The American weapons sales total was an “extraordinary increase” over the $21.4 billion in deals for 2010, the study found, and was the largest single-year sales total in the history of United States arms exports. The previous high was in fiscal year 2009, when American weapons sales overseas totaled nearly $31 billion.

A worldwide economic decline had suppressed arms sales over recent years. But increasing tensions with Iran drove a set of Persian Gulf nations — Saudi Arabia, the United Arab Emirates and Oman — to purchase American weapons at record levels.

These Gulf states do not share a border with Iran, and their arms purchases focused on expensive warplanes and complex missile defense systems.

The report was prepared by the nonpartisan Congressional Research Service, a division of the Library of Congress. The annual study, written by Richard F. Grimmett and Paul K. Kerr and delivered to Congress on Friday, is considered the most detailed collection of unclassified arms sales data available to the public.

full: http://www.nytimes.com/2012/08/27/world/middleeast/us-foreign-arms-sales-reach-66-3-billion-in-2011.html

[RKP5637]

1. Yep, a peace loving nation, bringing world peace.

[polly7]

2. Charts: US Overseas Arms Sales More Than Tripled in 2011

—By Asawin Suebsaeng| Wed Aug. 29, 2012 3:05 AM PDT
10

http://www.motherjones.com/mojo/2012/08/charts-us-arms-sales-overseas-triples

In 2011, the United States experienced its biggest year ever in weapons exports: According to an annual study by the Congressional Research Service [PDF] released earlier this week, the US overseas weapons sales jumped to $66.3 billion last year (77.7 percent of the $85.3 billion global market in 2011), from $21.4 billion in deals in 2010.

In just one year, the US more than tripled its revenue in arms deals with foreign countries. The $66.3 billion also sets a new cash total record, easily surpassing the previous record of $31 billion in sales in fiscal year 2009.

If you're having trouble putting those hefty sums in perspective, $66.3 billion is amounts to an extra $9.50 in lunch money for every man, woman, and child alive today. And if you're still having some trouble putting this in perspective, here's a pie chart that shows just how much our global share in arms deals with developing countries ticked up in that one year: