Israel hits $7.2 billion in arms exports

Israel's defense industry racked an unprecedented $7.2 billion in exports in 2010, up on the $6.9 billion achieved in 2009.

That put the Jewish state among the world's top four arms exporters but declining military budgets around the world are likely to reduce sales over the coming years.

"We recognize the challenges but we're working hard to maintain the level we're currently at and even to increase it," said Reserve Brig. Gen. Shmaya Avieli, head of the Defense Ministry's Foreign Defense Assistance and Defense Export Department.

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