US weapons sales hit record US$66b in 2011 on back of massive Saudi deal
Congressional report says sales tripled because of massive Saudi deal but that sales are not rising overall because of weak global economy
US weapons sales tripled last year to a record US$66.3 billion, pumped up by $33.4 billion in sales to Saudi Arabia.
The US sales accounted for 78 per cent of all global arms sales, which rose to US$85.3 billion, the highest level seen since 2004.
But a massive one-off US sale of fighter jets to Saudi Arabia last year skewed the statistics and the international arms market is not likely to continue growing, according to a comprehensive congressional report.
"The extraordinary total value of US weapons orders in 2011 distorts the current picture of the global arms trade market," said the report by the nonpartisan Congressional Research Service, calling US$66.3 billion "a clear outlier figure".
While Washington remained the world's leading arms supplier, nearly all other major suppliers, except France, saw declines in 2011, according to the annual report which is prepared for Congress.
France signed arms sales valued at US$4.4 billion, up from US$1.8 billion a year earlier, but Russia, the world's number two arms dealer, saw its sales nearly halved to US$4.8 billion. The four major European suppliers - France, Britain, Germany, and Italy - saw their collective market share drop to 7.2 per cent in 2011 from 12.2 per cent.