Russian Defence Ministry notes growth in military exports

Russia's military exports can yield $5-6 billion in receipts in 2003, Russian federal Deputy Defence Minister Mikhail Dmitriyev said Wednesday.

Russia has been forecast to earn up to $4.4 billion from arms and materiel sales in 2003, with receipts from the products sold via Rosoboronexport, Russia's major arms dealer, to make $3.7 billion of the forecast sum. However, the sales may amount to $5-6 billion.

"Naval products will make a considerable part of the exports," said the deputy minister.

He said exports of naval equipment and vehicles will keep growing. As of today they account for more than 40% of Russia's military exports, while the figure was a mere 19% in 2002.