US arms exports grow amid regional conflicts

The United States has benefited from the Russia-Ukraine conflict and other regional tensions by boosting its arms sales around the world, while Russia's arms exports plunged, according to the latest report by the Stockholm International Peace Research Institute.

The U.S. share of global arms exports jumped from 33 percent during 2013-17 to 40 percent in 2018-22, while Russia's share declined from 22 percent to 16 percent during those periods. The two countries have long been the world's top two arms exporters.

European countries increased their arms imports by 47 percent from 2013-17 to 2018-22, while the overall global level of international arms transfers decreased by 5.1 percent.

Imports have also increased due to increased military spending by European states, including Poland and Norway, and the rate of imports is expected to accelerate further, the report said.