Russian arms exports fell by 92%: The Kremlin loses billions and influence

Decline in Russian arms exports

Russian arms exports have suffered significant losses, decreasing by 92% in 2024. This decline is the result of a collapse in sales volumes, which has impacted the country's budget and its geopolitical status. As noted by the head of the state corporation 'Rostec', Sergey Chemezov, arms export volumes have halved compared to 2022.

Prior to the full-scale invasion of Ukraine, Russia earned about 14 billion dollars a year from arms sales. However, in 2024, arms exports have decreased to just 1 billion dollars, which is 92% less than in 2021. The total decline in exports over the past two years has amounted to 47%, and over a five-year period — 64%. Russia's share in the global arms market has shrunk from 21% to 7.8%.

Impact on international relations

Thus, the Kremlin is losing two important resources at once — financial funds and influence on the world stage. These changes may significantly affect Russia's strategy in international relations and its ability to support allies who previously relied on Russian military products.

This situation highlights not only the economic difficulties that Russia is facing but also the shift in its position in global politics.

Reducing arms exports may lead to a decrease in the country’s influence, especially in regions where it traditionally held strong positions. This may also encourage consumer countries to seek alternatives, making it increasingly difficult for Russia to restore its former positions in the international arms market.