Thursday, 2 February, 2023
E-paper

Growth in arms trade stunted by supply issues: report

Sales of arms and military services grew in 2021, researchers said Monday, but were limited by worldwide supply issues related to the pandemic, with the war in Ukraine increasing demand while worsening supply difficulties.

The top 100 arms companies sold weapons and related services totalling $592 billion in 2021, 1.9-percent more than the year before, said the latest report from the Stockholm International Peace Research Institute (SIPRI).

However, the growth was severely impacted by widespread supply chain issues.

Disruptions from both labour shortages and difficulties in sourcing raw materials were "slowing down the companies' ability to produce weapons systems and deliver them on time.