The Defense Security Cooperation Agency has found that the U.S. recorded $55.66B in fiscal 2018 foreign military sales, reflecting a 33 percent rise from total FMS sales posted in fiscal 2017.
DSCA said Tuesday the trend can be attributed to policy changes the White House has initiated such as the administration’s move to update the Conventional Arms Transfer Policy in April.
“These policy changes advance U.S. national security and foreign policy because they make FMS more attractive in a very competitive market,” said Lt. Gen. Charles Hooper, DSCA director and a Wash100 recipient.
The agency said the total figure includes $47.71B in transactions funded by partner countries; $4.42B in agreements funded by Defense Department agencies; and $3.52B in deals supported by the State Department’s Foreign Military Financing Program.
Some of the policy reforms that DSCA introduced include the FMS transportation reduction and the agency’s move to lower FMS-related administrative surcharge to 3.2 percent from 3.5 percent.