Russian Arms Exports Halved, Head of Rostec Says

Russian arms exports have significantly decreased due to the war in Ukraine and strong competition in the arms market.

The Moscow Times reported on this, citing a statement from Sergey Chemezov, CEO of the state corporation Rostec, made at the Dubai Airshow.

According to the data released by Chemezov, Russia previously earned about $14 billion in foreign currency annually from arms exports.

However, as early as 2022, the volumes had decreased to roughly half, and by 2024 the number of purchasing countries had dropped from 47 to 33.

If in 2018–2022 Russian supplies went to 47 countries, then in 2024 they went to 33. Asia and Oceania accounted for 74% of Russian exports, Africa for 12%, and Europe for 7.4%. At the same time, India remains Russia’s largest arms buyer, accounting for 38% of its sales. It is followed by China (17%) and Kazakhstan (11%), the publication notes, citing SIPRI data.

Meanwhile, according to the Stockholm International Peace Research Institute (SIPRI), Russia’s share of the global arms market has fallen from 21% to 7.8% over the past five years. Chemezov acknowledged that the sanctions imposed on Rostec since February 2022 have affected both the corporation’s defense and civilian divisions.

Despite this situation, the head of Rostec expressed confidence that export supplies will recover: according to him, the corporation is expanding its production capacity and will soon be able to meet not only the internal needs of the Russian Armed Forces but also restore external deliveries.

Militarnyi previously reported that internal documentation from the Rostec corporation reveals the real cost of weapons and the pricing scheme of Russian export contracts.