A Swedish think tank Stockholm International Peace Research Institute (SIPRI) announced that Russia has emerged as the world’s second-largest arms producer after the United States. Russia surpassed Britain, which had held that spot since 2002 and remains Western Europe’s No. 1 arms maker.
SIPRI announced in its annual report on the world’s 100 biggest armaments groups that the combined arms sales of Russian companies amounted to $37.7 billion in 2017, an 8.5 percent rise from a year earlier. Russia’s sales accounted for 9.5 percent of a worldwide total of $398.2 billion.
Source- The Economic Times
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Russia Capital: Moscow, Currency: Russian ruble.
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