June 10, 2007: Spain is rapidly becoming a major weapons exporting nation. Last year, Spanish defense sales were $1.1 billion, compared to a year earlier, when they were only $545 million. Currently, about $50 billion worth of weapons are exported each year by all arms producing nations. The top five arms exporting nations are the U.S., Russia, Britain, France and Israel, and they account for about two-thirds of those export (with American exports being about three times those of Israel). Most of Spains exports are warships (surface ships and subs).