Shipbuilding contributes $7bln to Russia's annual arms exports

Shipbuilding contributes up to $7 billion to the annual portfolio of orders of Russia's state-run arms exporter Rosoboronexport, an executive at the government hi-tech corporation Rostekhnologii said Tuesday.

"This sum relates to the Rosoboronexport portfolio of orders. This is the maritime share of the portfolio of orders," Rostekhnologii First Deputy General Director Alexei Alyoshin said.

Russia doubled its annual arms exports to $8.5 billion last year compared to 2000, becoming the world's second-largest exporter of conventional weapons after the United States. Rosoboronexport's current arms exports portfolio totals $33 billion.

Read more