HS Code:
The 'Arms and ammunition; parts and accessories thereof' category, classified under HS Code 93, encompasses a wide range of products including military weapons, firearms, ammunition, and related parts and accessories. This category includes items such as rifles, pistols, machine guns, artillery, bombs, grenades, and other munitions, as well as components like barrels, triggers, and magazines. Trade in this category is heavily regulated due to security concerns, international treaties, and national defense policies. The global trade of arms and ammunition is influenced by geopolitical tensions, military spending, and international agreements like the Arms Trade Treaty (ATT).
Total Trade Volume
USD 40 billion
Data from 2022
Source
United Nations Comtrade Database and Stockholm International Peace Research Institute (SIPRI)
USD 14.5 billion
36.3% of total trade of total trade
Increasing
USD 6.2 billion
15.5% of total trade of total trade
Decreasing
USD 3.8 billion
9.5% of total trade of total trade
Increasing
USD 2.9 billion
7.3% of total trade of total trade
Increasing
USD 2.1 billion
5.3% of total trade of total trade
Stable
Average Rate
15.7%
Highest Rate
Up to 50% (imposed by certain countries on specific arms imports for security reasons)
Lowest Rate
0% (under free trade agreements or for defense alliances like NATO)
Rising demand for advanced weaponry
Increased trade in high-tech arms like drones and precision-guided munitions due to modernization of military forces globally.
2021-2023
Geopolitical conflicts driving trade
Ongoing conflicts in regions like the Middle East and Eastern Europe have led to a surge in arms imports by affected countries and their allies.
2020-2023
Shift toward domestic production
Countries like India and Saudi Arabia are investing in local arms manufacturing, reducing reliance on imports over the long term.
2019-2023
The United States approved a USD 5 billion arms deal with Saudi Arabia, including advanced missile systems and aircraft components, despite concerns over human rights and regional stability.
August 2023
Strengthens US position as the largest arms exporter and deepens military ties in the Middle East, potentially escalating regional arms races.
The European Union introduced stricter regulations on arms exports to prevent weapons from reaching conflict zones or regimes with poor human rights records.
June 2023
May reduce arms exports from key EU countries like France and Germany to certain regions, redirecting trade flows to other suppliers like Russia or China.
Western sanctions following the Ukraine conflict have restricted Russia's access to key markets and technologies, impacting its arms export capabilities.
March 2022 - ongoing
Decreases Russia's share in global arms trade, creating opportunities for competitors like China and the US to fill the gap in markets like Africa and South Asia.