The U.S. and Europe are leading a trend, caused by budget constraints, forcing them to downsize their armed forces. Still, the U.S. remains the world's largest arms spender at around 600 billion dollars a year.
The largest arms spenders in the world that follow the U.S. and Europe are China and Russia.
Many countries in Africa are enjoying booming growth, but are increasing their arms transactions faster than any other region in the world.
CCTV America's Rachelle Akuffo spoke to Jim Walsh about arms exports around the world. Walsh is an international security expert at the Massachusetts Institute of Technology.
