Russian arms exports portfolio stands at $48 billion

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Russian arms exports have tripled in the past eleven years, from $5 billion to $15.3 billion in 2014, Director of the Federal Service for Military-Technological Cooperation (FSMTC) Alexander Fomin said on Friday. “The export order portfolio of the Russian defense sector stands at $48 billion,” he added.

The 2014 exports plan was met 99.5 percent, Fomin said. “We planned to deliver $15.59 billion worth of products but the actual cost of deliveries was $15.3 billion. Foreign currency revenue exceeded $14 billion,” he noted.

“The state-run intermediary Rosoboronexport exported $13.2 billion worth of military products in 2014 or 85 percent of total military exports,” Fomin said. “The share of other entities involved in military-technological cooperation projects was 15 percent or $2.3 billion.”

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