CHINA TOPIX

11/21/2024 06:26:19 pm

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China Now The World's Third Biggest Arms Exporter; Outranks Germany

File photo of China's military weapons

(Photo : Reauters) China is reportedly planning to sanction companies, whose weapons have been sold to Taiwan.

China has overtaken Germany in the global ranking of countries with biggest arms exports, after Chinese exports of weapons registered an increase of 143 percent.

Meaning, the country's sale of arms to other countries has doubled for the past five years.

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The data come from the Stockholm International Peace Research Institute or SIPRI.

China's performance puts it at third rank, narrowly overtaking Germany, although still behind the biggest exporters, the United States and Russia.

China accounts for 5.4 percent of  global arms exports, while Germany accounts for 5.2 percent.

The United States remains the number one arms exporter, supplying 31.5 percent of arms sold around the world.

Russia is the second top arms exporter, taking 28 percent of global market share.

Despite its rising to the third rank, China weapons manufacturers are not targetting to take the top spot at this time.

It is content to act as a key supplier of weapons to countries like Pakistan, Myanmar and several states in Africa, including Sudan.

China is also investing big in its own military, which has benefitted the country's arms industry.

Meanwhile, just 10 years ago, China was the biggest arms importer in the world.

This record has changed and China is now just in the third rank, with 4.7 percent of market share.

India is currently the biggest arms importer, taking up 9.6 percent of world's order for arms.

SIPRI says, India is now the biggest arms buyer because the country has so far failed to produce its own competitive indigenous weapons.

He says, this is why India remains dependent on imports.

SIPRI further says, until India makes changes, its military ambitions will rely on weapons and equipment sourced from abroad, more specifically from Russia, where seventy percent of India's arms imports come from.

Saudi Arabia is the second biggest arms importer in the world, with a share of 4.9 percent.

The United Arab Emirates ranks number four with 2.6 percent, while Pakistan accounts for 2.3 percent, or in fifth in world ranking.

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