Home » Current Affairs » International » Saudi Arabia overtakes India to become worlds biggest importer.

Saudi Arabia overtakes India to become worlds biggest importer.

  • Saudi Arabia overtook India in 2014 as the world’s biggest importer of defense equipment according to a study published Sunday by respected analysts IHS Jane’s.
  • Global defense trade currently stands at $64.4 billion.

Reasons for shuffle in ranking:

  1. Unparalleled demand from the emerging economies for military aircraft.
  2. Escalation of regional tensions in the Middle East and Asia Pacific.

Ranks of various countries in defence purchase:

Rank Top defence importers in 2013 Rank Top defence importers in 2014
1 India 1 Saudi Arabia
2 Saudi Arabia 2 India
3 UAE 3 China
4 Taiwan 4 UAE
5 China 5 Taiwan
6 Indonesia 6 Australia
7 South Korea 7 South Korea
8 Egypt 8 Indonesia
9 Australia 9 Turkey
10 Singapore 10 Pakistan
  • This report examines the defense market across 65 countries.
  • According to report, Saudi Arabia spent more than $6.4 billion on defense kit in 2014, overtaking India (spending $5.57 billion).
  • The United States maintained its position as the top exporter, shipping $23.7 billion of equipment, ahead of Russia on $10 billion.
  • France was the third biggest exporter ($4.9 billion) followed by Britain ($4.1 billion) and Germany ($3.5 billion).

Leave a Reply