Worldwide arms trade flourishing despite recession, report warns

Richard Norton-Taylor
London Guardian
March 16, 2010

The worldwide arms race has accelerated, most dramatically in South America and south-east Asia, despite the economic and financial slump, according to a report published today.

The average volume of arms sales increased by 22% over the past five years, compared to the previous five-year period, says the report by the Stockholm International Peace Research Institute (SIPRI). The last two of these years were marked by worldwide economic turbulence which has far from stabilised, yet the arms trade is booming, it finds.

The report does not give the cost of the arms trade because most governments no longer release the figures. Britain stopped publishing the cost of its arms sales last year.

The US remains the world’s top arms exporter, accounting for 30% of the total, followed by Russia (23%), Germany (11%), and France (8%).

Full article here

The worldwide arms race has accelerated, most dramatically in South America and south-east Asia, despite the economic and financial slump, according to a report published today.

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