U.S. arms deals rose nearly 50 percent in 2007

Newswire

By Jim Wolf WASHINGTON, Oct 29 (Reuters) - The value of worldwide U.S. arms deals soared nearly 50 percent last year to $24.8 billion from $16.7 billion in 2006, according to a newly released report for the U.S. Congress. The United States accounted for 41.5 percent of all such agreements in 2007, followed by Russia, with $10.4 billion, or 17.3 percent, the Congressional Research Service said in the annual report dated Oct. 23. Britain was third, with arms deals valued at $9.8 billion, ...

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