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U.S. arms exports up 49% in fiscal 2022
© Reuters. FILE PHOTO: U.S. M1A2 "Abrams" tank moves to firing positions during U.S. led joint military exercise "Noble Partner 2016" near Vaziani, Georgia, May 18, 2016. REUTERS/David Mdzinarishvili
By Mike Stone
WASHINGTON (Reuters) -Sales of U.S. military equipment to foreign governments rose 49% to $205.6 billion in the latest fiscal year, the U.S. State Department said on Wednesday.
Sales approved in the year included $13.9 billion worth of F-15ID fighter jets to Indonesia, $6.9 billion worth of Multi-Mission Surface Combatant ships to Greece, and $6 billion worth of M1A2 Abrams tanks to Poland.
General Dynamics Corp (NYSE:GD) makes the Abrams tank, Boeing (NYSE:BA) makes the F-15 jet and Lockheed Martin Corp (NYSE:LMT) makes the ships.
There are two major ways foreign governments purchase arms from U.S. companies: direct commercial sales negotiated between a government and a company, and foreign military sales in which a foreign government typically contacts a Defense Department official at the U.S. embassy in its capital. Both require U.S. government approval.
The direct military sales by U.S. companies rose 48.6% to $153.7 billion in fiscal 2022 from $103 billion in fiscal 2021, while sales arranged through the U.S. government rose 49.1% to $51.9 billion in 2022 from $34.8 billion the prior year, the State Department said.
Sales of U.S. military equipment in the prior fiscal year totaled $138 billion.
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