SIPRI: China overtook Russia and became the second producer of weapons in the world

Experts of the Stockholm Institute for peace studies (SIPRI) was the first to perform the production of weapons of Chinese companies. It turned out that in 2017, four companies from China has sold weapons to 16.4 billion dollars more than ten major Russian competitors. As a result, China became the second country in the world in the production of weapons after the United States, the report shows.

How to write the experts of the Institute, the report represents “the most comprehensive to date picture of the production of weapons of Chinese companies”: the earlier to estimate the volumes was impossible because of lack of data. However, experts have studied the indicators of the four Chinese companies for the years 2015-2017, which is available “reliable financial information” on the background of the IPO.

In SIPRI said that in 2017, the top 20 arms manufacturers included 11 American, six European and three Russian companies. If the rating was compiled now, all four Chinese companies would have entered the top 20, with three of them in the top ten.

Total arms sales of the four Chinese companies in 2017 amounted to 54.1 billion dollars. In SIPRI believe that Chinese companies may understate their performance.

Thus, according to SIPRI, Russia dropped to third place in the world for the production of weapons. In December, the Institute reported that in 2018 the volume of sales of Russian companies decreased to 36.2 billion dollars, 8.6 per cent of the total in the world. USA has sold weapons and provided military services to 246 billion (59 percent of total sales).

Illustrative photo See taggert: the secret costs of Russia had reached almost 5 trillion rubles

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