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US Reported $ 192.3 Billion Through Arms Sales; An Increase Of 13%

US Reported $ 192.3 Billion Through Arms Sales; An Increase Of 13%
Jamie Jones
Written by Jamie Jones

Combined arms sales by US companies for the fiscal year 2018 increased 13 % compared to 2017, reporting $192.3 Billion for US companies, according to new data released by the US Department of Commerce on Thursday.

The department had reported foreign military sales of $55.66 Billion in the previous year, up by 33 % from $41.93 Billion a year earlier. As part of the process of selling military equipment abroad, the US government mediates amid American industry and foreign partners.

What has not yet been announced is the total direct sales, the process by which foreign customers can purchase systems directly from the industry. These numbers surpassed to $136.6 Billion, an increase of 6.6 % from $128.1 Billion last year.

The Trump government has turned the sale of US defense products overseas as an essential part of its governance plan, based on the standard that “economic security is national security.” Earlier this year, the department brought in its new conventional arms transfer policy as well as new guidelines for the sale of unmanned systems, with the clear goal of increasing arms sales.

Linking this year’s numbers to changes in the WCB can, however, is very difficult. Sales may vary from year to year owing to the size of certain arms packages; Two large purchases from Saudi Arabia in 2012 were set to a record $ 287 Billion per year.

And there has been stable growth in the last three years, even before the execution of the Trump reforms, with total sales of $148.6 Billion in the fiscal year 2016; $170 Billion in the fiscal year 2017; and $ 192.2 Billion for the fiscal year 2018.

With the changes implemented by WCB and export reform efforts under the Obama administration, countries have more opportunities to use direct commercial sales, or DCS, for their purchases.

About the author

Jamie Jones

Jamie Jones

The Business department at Global News Journal is handled and managed by Jamie. she has 5 plus years of experience in the related sector. She has done her Masters in Business Administration and hence is a perfect fit for this job. If anybody has any doubt in the business section, they look up at Jamie. And she totally solves it. In her free time, Jamie loves sipping coffee at her favorite coffee shop.

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