From Defense Talk:
The report on the global arms bazaar is produced every year by the Congressional Research Service (CRS), a division of the Library of Congress, and is the most comprehensive publicly available collection of data on the topic.
The explosive growth of US arms sales is especially notable beside the general decline in arms sales last year. The value of all arms transfer agreements worldwide in 2008 was $55.2 billion, according to the report - a decrease of 7.6 percent from the previous year.
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My Comment: One major war or another 9/11 .... these figures can easily change in an instant.