The Traderszone Network

Published in TZ Latest News 8 March, 2015 by The TZ Newswire Staff

Saudi Arabia outpaces India to become top defense importer: IHS

Saudi Arabia overtook India to become the world’s biggest weapons importer in 2014, a year when global defense trade rose for the sixth straight year to a record $64.4 billion, research company IHS said on Sunday. The United States remained the top defense exporter in 2014, ahead of Russia, France, Britain and Germany, a top-five ranking unchanged from 2013, IHS said in an annual defense trade report. “Growth in Saudi Arabia has been dramatic and, based on previous orders, these numbers are not going to slow down,” an IHS statement quoted its senior defense analyst Ben Moores as saying.

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