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Saudi Arabia: World's 3rd largest weapons buyer with US as its top supplier
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IANS | 22 Oct, 2018
Saudi Arabia is the world's third-biggest purchaser of weapons,
two-thirds of which are supplied by the US according to an annual arms
trade report published Monday by the Stockholm International Peace
Research Institute.
The institute is an independent international
entity established in 1966 that is devoted to the research of global
conflicts, armaments, arms control and disarmament, whose conclusions
are published in its "Yearbook 2018: Armaments, Disarmament and
International Security."
According to SIPRI's report on the
global weapons trade covering the last five-year period, 61 per cent of
Saudi weapon imports were shipped from the US, 23 per cent came from the
United Kingdom and 3.6 per cent originated from France, with Spain in
fourth place and a 2.4 per cent share, Efe reported.
Other
countries that also sold weapons to Saudi Arabia (on a smaller scale)
during this five year period included: Germany, Switzerland, Italy,
Canada, Turkey or Sweden, with a trading volume of around one percent.
Between
2013 and 2017, Saudi Arabia became the world's second largest arms
importer, right behind India, representing a 10 per cent share of the
international arms sales during that period.
Saudi Arabia purchased 78 combat aircraft, 72 helicopters, 328 tanks and around 4,000 sundry armed vehicles.
According
to the SIPRI 2018 report, Saudi Arabia with a population of 33 million,
had the world's third highest defence budget, only surpassed by the US
that, with 316 million inhabitants, spent nine times more and China with
1,380 million citizens, spent three times more.
In 2017, Saudi
Arabia earmarked $69.4 billion equivalent to 4 per cent of the world's
defence expenditure and 10 per cent of the kingdom's Gross National
Product.
This figure includes wages, weapons and equipment purchases, pensions, maintainance and administrative expenses.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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