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U.S. leads world in foreign weapons sales: report

WASHINGTON (Reuters) – The United States accounted for more than two-thirds of foreign weapons sales in 2008, a year in which global sales were at a three-year low, The New York Times reported on Sunday.

Citing a congressional study released on Friday, the Times said the United States was involved in 68.4 percent of the global sales of arms.

U.S. weapons sales jumped nearly 50 percent in 2008 despite the global economic recession to $37.8 billion from $25.4 billion the year before.

The jump defied worldwide trends as global arms sales fell 7.6 percent to $55.2 billion in 2008, the report said. Global weapons agreements were at their lowest level since 2005.

[from Reuters]




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