In a June 2012 conference call to journalists, Andrew Shapiro, US Assistant Secretary of State for Political-Military Affairs said: "Today, I can confirm that this is already a record-breaking year for foreign military sales. We have already surpassed $50 billion in sales in fiscal year 2012," which ends September 30. Shapiro said it was too early to predict whether 2013 would see a further increase in foreign military sales.
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U.S. arms exports tripled and reached a record $66.3 billion last year or more than three-quarters of the global arms market, the New York Times is reporting Sunday night.
The US military-industial complex sold 78 per cent of the world's arms in 2011. Russia was a distant second, with just $4.8 billion in weapon sales.
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