London: The United States sells more arms than any other country, and Saudi Arabia leads the world for buying arms among developing countries while India spent $ 900 million on weapons, a report from the International Institute of Strategic Studies (IISS) said.

The United States holds a 40.3 per cent market share in arms sales, raking in $ 10.241 billion (8.8 billion Euros) from sales in 2002, according to the IISS annual report 'The Military Balance 2003-2004', on arms around the world.

Saudi Arabia spent an estimated $ 5.2 billion in 2002 buying weapons, despite having reduced arms purchases from the 1995-1998 period, the report said.

India and the Arab Emirates each spent $ 900 million on weapons.

Britain, the world's second-largest arms seller, sold $ 4.7 billion worth of weapons in 2002 and has a 18.5 per cent market share. It is followed by Russia ($ 3.1 billion and 12.2 per cent market share) and France ($ 1.8 billion and 7.1 per cent market share).

China comes fifth down the list selling $ 800 million worth of arms in 2002 (3.1 per cent market share), followed by Ukraine at $ 600 million (the report did not publish the country's market share), Germany at $ 500 million (two per cent market share) and Italy at $ 400 million (1.6 per cent market share).

Israel, the world's ninth-largest arms seller, brought in $ 300 million from sales in 2002, followed by Brazil at $ 200 million.

Agencies