The Best Business of the World- Weapon Production

• 03.16.2015, 13:30
•  World

How are countries becoming world leading economies? In order to answer this question, there is a need to examine what those countries are exporting.

According to a new report of Stockholm International Peace Research Institute (SIPRI), China has become the world's third largest exporter of arms after the US and Russia, BBC reports. The figure 1 depicts the countries with their arms export quantities.

Figure 1. The 10 largest exporters of  weapons are:

The table shows that the US is in the first place and Russia in the second place. China is in the third place; its arms export jumped over the last 5 years. It has increased by 143% in 2014 compared with the previous five years. On the contrary Germany's arms exports fell by 43% and  France's ones fell by 27%. Overall exports volume of arms around the world has increased by 16%.

Although China has rose its export, still it has gap between the top two exporters US and Russia. US increased its export by 23% and Russia by 37% during the same period.

As long as there is a demand of any good or service,  the production and the supply in the particular production will rise. In economic terms and in the statistical data the revenue of arms export is not counted in any countries' GDP.