Defense Exports Are Booming Despite the Downturn

Defense exports are booming despite the global economic downturn. According to IHS Jane’s, the United States is the world leader in exporting military hardware by a massive distance. Back in 2008, U.S. defense exports amounted to around $20 billion and this increased to $28.5 billion in 2012.

One of the reasons for this strong performance by the United States amid global economic uncertainty is a relaxation in arms export rules, allowing parts for military aircraft to be exported freely. Russian defense exports also increased from $8.3 billion to just over $10 billion.

France rounds off the top three global defense exporting countries. Between 2008 and 2012, exports rose from just over $4 billion to $4.6 billion.

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This chart shows the leading global defence exporting countries 2008-2012 (in million US dollars).

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Defense Exports Are Booming Despite the Downturn