By: inter01  9 November 2008 view: 77
U.S. arms deals rose nearly 50 percent in 2007
By Jim Wolf
WASHINGTON, Oct 29 (Reuters) - The value of worldwide U.S. arms deals soared nearly 50 percent last year to $24.8 billion from $16.7 billion in 2006, according to a newly released report for the U.S. Congress.
The United States accounted for 41.5 percent of all such agreements in 2007, followed by Russia, with $10.4 billion, or 17.3 percent, the Congressional Research Service said in the annual report dated Oct. 23.
Britain was third, with arms deals valued at $9.8 billion, up from $4.1 billion in 2006, said the report, titled "Conventional Arms Transfers to Developing Nations, 2000-2007." The report is based on unclassified data from unspecified U.S. government sources.
Last year's 48.5 percent jump in U.S. arms deals "may be a high water mark for the foreseeable future because of the economic difficulties now confronting major purchasers," the report's author, Richard Grimmett, said in a telephone interview.
The U.S. total reflected, among other things, the advantage of having well-established defense support arrangements based on the range of U.S. weapons already in use with militaries worldwide, the report said.
Deals inked in 2007 include not only sales of major weapons systems, but the upgrading of those sold previously along with pacts for a wide range of spare parts, ammunition, ordnance, training and support services.
Saudi Arabia was the largest buyer among developing countries in 2007, concluding $10.6 billion in arms deals, led by an order for 72 Eurofighter Typhoon fighter aircraft valued at more than $9 billion, the report said.
India was the second biggest buyer among developing countries with $5 billion in agreements, with Pakistan third, with $4.2 billion, it said.
The report said Russia's biggest-ticket arms deals continued to be with India and China while it was pushing to expand prospects in North Africa, the Middle East and Southeast Asia.
"Most recently, Russia has increased sales efforts in Latin America, despite having essentially abandoned major arms sales efforts there after the end of the Cold War," it said.
Venezuela has become a significant new arms client gained by Russia in this region, the report said.
"For less affluent developing nations Russia's less expensive armaments are particularly attractive," the survey said. (Editing by Eric Beech)
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