Russian President Vladimir Putin says his country’s arms exports stood at $14.5 billion last year, bringing the total value of foreign arms orders to over $56 billion, the highest amount in post - Soviet era. "Exports of Russian military equipment in 2015 exceeded our expectations and totaled $14.5 billion… As a result, the current arms export orders portfolio has exceeded $56 billion for the first time since 1992," Russian media quoted Putin as saying during a Tuesday meeting of the presidential commission on military-technical cooperation with foreign countries in the western city of Nizhny Novgorod. He went on to say that in 2015 Russia exported defense products to 58 countries, including Commonwealth of Independent States (CIS) member states, India, Iraq, Egypt, Vietnam, China, Algeria, which he referred to as Moscow’s major defense markets. In addition, "new weapons markets in Africa, Latin America, South Asia and the Middle East are being developed," he said, adding that Russia will keep expanding the export capacity.