U.S. holds huge lead in global weapons sales

The San Francisco Chronicle reports:

Despite a recession that knocked down global arms sales last year, the United States expanded its role as the world's leading weapons supplier, increasing its share to more than two-thirds of all foreign armaments deals, according to a new study.

The United States signed weapons agreements valued at $37.8 billion in 2008, or 68.4 percent of all business in the global arms bazaar, up significantly from American sales of $25.4 billion the year before.

Italy was a distant second, with $3.7 billion in worldwide weapons sales in 2008, while Russia was third with $3.5 billion in arms sales last year - down considerably from the $10.8 billion in weapons deals signed by Moscow in 2007.