Russian First-Half Arms Exports Exceed $6.5 Billion, Putin Says

Russia shipped more than $6.5 billion of military products in the first half of 2012, a 14 percent increase from the same period last year, President Vladimir Putin said.

Arms exports rose to $13.2 billion in 2011 from $6 billion in 2005 and exceeded $44 billion during the last seven years combined, Putin said today at a meeting in the Black Sea resort of Sochi, according to a transcript posted on the Kremlin’s website.

Russia has signed $5.7 billion of export contracts this year, bringing the total value of deals to about $43 billion, Putin said. Fifty-five countries buy Russian weapons, including India, China, Venezuela and the U.S., he said.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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