Day: October 20, 2023
The United States remains a global leader in arms sales, with a significant portion of its GDP dependent on the defense industry. Recent data reveals the staggering revenues generated from these sales and highlights the nation’s pivotal role in the global arms trade.
The most recent conflict Ukraine and Palestine is the US the latest in the warmongering policies that boost the US defense sector to earn revenue by pushing nations towards havoc.
The U.S. defense industry has continued to thrive, with arms sales reaching new heights in recent years. According to data the United States maintained its position as the world’s top arms exporter, accounting for a substantial portion of global arms sales. In 2022, the U.S. secured arms sales worth an estimated $175 billion. This figure represents a significant increase from the $120 billion recorded in 2021.
The United States has long relied on its robust defense industry as a substantial contributor to its GDP. While the exact percentage of GDP directly attributable to defense sales can vary year by year, defense-related activities contribute to approximately 3.7% of the U.S. GDP. This figure underscores the significance of the defense sector in the country’s economic landscape.
The immense earnings from U.S. arms sales not only bolster the nation’s economy but it causes massive bloodshed around the world with heavy causalities and massacres. Additionally, it has raised concerns among various groups regarding the ethics and consequences of such extensive arms sales.
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NPR News: 10-20-2023 11PM EDT
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