Weapons Sales Worldwide Rise to Highest Level Since 2000

The value of military weapons sales worldwide jumped in 2004 to the highest level since 2000, driven by arms deals with developing nations, especially India, Saudi Arabia and China, according to a new Congressional study.
The total of arms sales and weapons transfer agreements to both industrialized and developing nations was nearly $37 billion in 2004, according to the study.
That total was the largest since 2000, when global arms sales reached $42.1 billion, and was far above the 2003 figure of $28.5 billion.
The United States once again dominated global weapons sales, signing deals worth $12.4 billion in 2004, or 33.5 percent of all contracts worldwide. But that was down from $15.1 billion in 2003.