Russia Drops to Third in Arms Trade as Exports Plunge

Russian arms exports more than halved over the past five years, compared to the previous five.

Russia's once-potent arms export industry is collapsing amid the pressures of its war on Ukraine and a struggling economy, according to new data released by the Stockholm International Peace Research Institute on Sunday.The organization's annual update of the arms industry saw Russia fall to third place—behind France and the U.S.—among the globe's largest weapons exporters, the first time it has surrendered the second spot.

The poor performance of Russian tech on the battlefields of Ukraine has done little to help military industrial salespeople. Russian ships have been repeatedly sunk, planes downed and air defense systems found wanting. Moscow's big-ticket items have not delivered.Export shrinkage has left the Russian arms industry reliant on Asia and Oceania, the states of which account for 68 percent of total exports from 2019–23. India made up 34 percent and China 21 percent.

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