• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

U.S. weapons exports rise 2.8% to $175 billion in fiscal 2020

5 years ago
in Business
1 min read
0 0
0
97
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Sales of U.S. military equipment to foreign governments rose 2.8% to $175 billion in the latest fiscal year, officials said on Friday, with looser restrictions under President Donald Trump boosting purchases during his time in office.

The U.S. State Department disclosed military sales figures for the 2020 fiscal year, which ended on Sept. 30. Sales of U.S. military equipment in the prior fiscal year had totaled $170 billion.

Sales of fighter jets and guided missiles have risen in the past year as U.S. allies sought to gain access to the latest technology from companies including Lockheed Martin Co and and Raytheon Technologies.

Major deals in fiscal 2020 included Japan’s purchase of 63 F-35 fighter jets from Lockheed Martin for as much as $23 billion.

There are two major ways foreign governments purchase arms from U.S. companies: direct commercial sales negotiated between a government and a company; and foreign military sales in which a foreign government typically contacts a Defense Department official at the U.S. embassy in its capital. Both require U.S. government approval.

The direct military sales by U.S. companies jumped 8.4% to $124.3 billion in fiscal 2020 from $114.7 billion in fiscal 2019, while sales arranged through the U.S. government fell 8.3% to $50.78 billion in 2020 from $55.39 billion the prior year, the State Department said.

On average, foreign military sales under Trump amounted to $57.5 billion per year, versus an average of $53.9 billion per year for the eight years under his predecessor Barack Obama, in 2020 dollars, according to Bill Hartung, director of the Arms and Security Program at the Center for International Policy think tank. Sales averaged about 6% more per year under Trump, Hartung said.

Trump’s administration in 2018 rolled out a new “Buy American” program that relaxed restrictions here on military sales while encouraging U.S. officials to take a bigger role in increasing business overseas for the U.S. weapons industry. Trump is due to leave office on Jan. 20.

RelatedPosts

GFIM@10: Government Reaffirms Commitment to Deepening Capital Markets; Strengthen Role in National Development

Ghana’s Fixed-Income Market Positioned to Anchor Regional Capital-Market Integration Under AfCFTA – BoG Governor

GFIM Eyes West Africa Fixed-Income Market Dominance by 2035

Source: reuters
Via: norvanreports
No Result
View All Result

Highlights

GSE Ends Session Marginally Higher on Gains in Banking Stocks

IMF, Burkina Faso Reach Staff-Level Agreement on Fourth Review of ECF and Climate-Focused Facility

Ghana’s 2026 Budget: From Recovery to Reset? 

Why Digital Transformation in Ghana Still Feels Superficial

Barcelona President Laporta Rules Out Messi’s Return Amid Emotional Visit

Jannik Sinner Dominates Alexander Zverev to Reach Semifinals of ATP Finals

Trending

Business

GFIM@10: Government Reaffirms Commitment to Deepening Capital Markets; Strengthen Role in National Development

November 13, 2025

GFIM@10: Government Reaffirms Commitment to Deepening Capital Markets; Strengthen Role in National Development The Director of the...

Ghana’s Fixed-Income Market Positioned to Anchor Regional Capital-Market Integration Under AfCFTA – BoG Governor

November 13, 2025

GFIM Eyes West Africa Fixed-Income Market Dominance by 2035

November 13, 2025

GSE Ends Session Marginally Higher on Gains in Banking Stocks

November 13, 2025

IMF, Burkina Faso Reach Staff-Level Agreement on Fourth Review of ECF and Climate-Focused Facility

November 13, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.