From Peace institute says world arms trade expected to grow in 2008 after downward 'blip' last year :
STOCKHOLM, Sweden (AP) - Global weapons transfers are likely to swing back up this year after an 8 percent drop in 2007, an expert at a leading peace research institute said Tuesday.
Deliveries of conventional weapons systems fell from a peak in 2006, mostly because of a drop in Chinese imports, but there is no sign of a downward trend in the worldwide arms trade, said Paul Holtom, of the Stockholm International Peace Research Institute.
"I think we see it as a blip," Holtom said. "I would say the trend will continue upward in 2008 and 2009."
The research institute presented figures this week showing China's weapons imports dropped 62 percent last year, hitting Russian suppliers especially hard. But Holtom said Russia has new deliveries coming up to other countries, including an order of fighter jets from Malaysia.
Several other countries such as Saudi Arabia and India are also expected to place major orders in coming years to upgrade their conventional weapons arsenals, Holtom said.
The U.S. still claims the No. 1 spot as the world's largest arms supplier, the institute said, followed by Russia, Germany, France and Britain. These five countries account for about 80 percent of international weapons exports, it said.
The U.S. still claims the No. 1 spot as the world's largest arms supplier, the institute said, followed by Russia, Germany, France and Britain. These five countries account for about 80 percent of international weapons exports, it said.
More research on global armaments, including nuclear weapons, will be presented in the Peace Research Institute's annual yearbook later this year.
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