Peace research institute : Arms sales in 2007 remain at high level
Global arms sales remained at a high level in 2007 fuelled by imports in the Middle East and Asia, a respected peace institute said Monday in Stockholm.
Although transfers of "major conventional weapons" dropped 8 per cent compared to 2006, sales in 2007 were the second-highest in the decade, the Stockholm International Peace Research Institute (SIPRI) was quoted by DPA as saying.
Asia accounted for 37 per cent of the transfers in the period 2003-2007 with China and India among the world's top five arms importers. Russia was their main source of arms.
Europe was on 25 per cent, the Middle East had 19 per cent, North and South America had 9 per cent of global transfers, SIPRI said.
SIPRI has tracked sales from 1950 to the end of 2007 and published its findings on a database that is also available online. The institute operated with five-year periods to offset temporary fluctuations and did not offer financial estimates.
Russia remained the world's second largest arms exporter with 26 per cent of the volume of international arms exports between 2003 and 2007, while the United States had a 31 per cent stake, SIPRI said.