China becomes world's fifth largest arms exporter, overtaking Britain

STOCKHOLM (AP) - China has overtaken Britain as the world's fifth largest arms exporter, a Swedish think-tank said on Monday.

The volume of Chinese weapons exports rose by 162 per cent in the five-year period 2008-2012, compared to the previous five-year period, the Stockholm International Peace Research Institute (Sipri) said in its report. That means China's share of all international arms exports increased to 5 per cent from 2 per cent, and the country climbed to fifth from eighth in the rankings.

The largest buyer of Chinese weapons was Pakistan, which accounted for 55 per cent of the country's exports, followed by Myanmar with 8 per cent and Bangladesh with 7 per cent, Sipri said.

"China's rise has been driven primarily by large-scale arms acquisitions by Pakistan," said Mr Paul Holtom, director of the Sipri Arms Transfers Programme. "However, a number of recent deals indicate that China is establishing itself as a significant arms supplier to a growing number of important recipient states."