North Korea's arms exports reach $11m last year

North Korea exported defense equipment worth US$11 million last year, a news report said Tuesday. The Voice of America (VOA) also said the North imported defense equipment worth $63 million last year, citing a report by IHS Jane's, a London-based security information firm. The VOA did not elaborate on what defense equipment North Korea either sold or bought last year. Meanwhile, South Korea shipped defense equipment worth $613 million while importing defense equipment worth $1.62 billion, according to the VOA. "Seoul is forecast to enjoy higher exports revenue in East Asia than China by 2016, having already overtaken the UK, Italy and Israel in the region," IHS Jane's said in a report posted on its website. According to the report, the United States was the world's top weapons exporting country last year, followed by Russia, France, Germany and Britain, with India purchasing the largest amount of defense equipment.