President Dmitry Medvedev says Russia set a new post-Soviet record in arms sales last year.
Medvedev says Russia sold $8.35 billion worth of weapons in 2008, or $800 million more than in 2007.
He said the global financial crisis will cause the world arms market to shrink, and urged officials at a meeting Tuesday to seek new markets and move to diversify the range of products.
Russia has come in a close second to the United States in volumes of global arms sales in recent years. China and India have been the leading customers, but Russia also recently struck big weapons deals with Venezuela, Algeria and Iran.