MOSCOW, Dec. 23 (UPI) -- Russia became the world's second largest arms exporter in 2011, after the United States, officials said Friday.

The Center for Analysis of World Arms Trade found that in 2011, Russia accounted for 16.1 percent of all international arms supplies, or $11.29 billion in revenue, RIA Novosti reported.


"The forecast for 2012 is $11.3 billion or 17.3 percent of global arms sales," Igor Korotchenko, head of CAWAT, said Friday.

Korotchenko said Russia ranked high despite losing the Iranian market because of arms embargoes imposed on Iran by the United States. Russia exports to more than 100 countries.

The United States, however, dominated world arms exports this year, with 40 percent of global trade, or $28.76 billion.

The top 10 biggest arms suppliers include France, Germany, Britain, Italy, Israel, Spain, Sweden and China, CAWAT reported.