In 2021, US arms exports will fall 21% to $ 138 billion

D + D – Normal size

The U.S. State Department said Wednesday that sales of U.S. military equipment fell by 21 percent to about $ 138 billion over the past fiscal year, as President Joe Biden’s administration shifted from its predecessor’s arms sales approach.

The U.S. State Department has released military sales figures for fiscal 2021 ending September 30. Sales include AH-64E Apache helicopters worth $ 3.5 billion to Australia and CH-53K helicopters worth $ 3.4 billion to Israel.

Total U.S. military hardware sales in the previous fiscal year were $ 175 billion.

The fall of 2021 follows the exceptionally high sales of warplanes and guided missiles in the final years of the administration of former President Donald Trump.

Among the major financial deals for 2020 was the purchase of 63 F-35 fighter jets from Lockheed Martin by Japan, for a total of $ 23 billion that year.

There are two main ways in which foreign governments purchase weapons from US companies. US Embassy in its capital.

Both methods require US government approval.

U.S. military direct sales fell 17 percent to $ 103 billion from $ 124 billion in fiscal 2020 to 2021, while sales organized by the U.S. government fell 31 percent to $ 34.8 billion from $ 50.8 billion in 2021, according to the U.S. State Department. Previous year.

The Trump administration launched the “American Buy” program, which eased restrictions on military sales, while encouraging U.S. officials to play a greater role in boosting US arms operations abroad.

Follow the economic report through Google News