According to a newly-released American report examining global arms' transfers, Israel is one of the top exporters of weapons, with sales worth 12.9 billion U.S. dollars between 2004 and 2011.

The report, titled Conventional Arms Transfers to Developing Nations, was written by the Congressional Research Service (CRS) at the Library of Congress, the Globes economic daily reported Tuesday.

The CRS provides the congress with legal analysis and information for committees and members of the U.S. Congress.

According to the report, Israel is not only one of the world's top arms exporters but also one of the biggest buyers, and it exports weapons mainly to developing countries.

The study finds that between 2004 and 2011, Israel's billions of U.S. dollars worth of arms transfer agreements placed it eighth in the list of the world's biggest weapon suppliers, behind the U. S., Russia, France, Britain, Germany, and Italy.

The report states that between 2004 and 2011, Israel's arms deliveries totaled at approximately 10.6 billion U.S. dollars, and reached 1.8 billion U.S. dollars in 2011 alone.

It states that Israel's arms transfer agreements were mostly with developing nations, totaling at 8.7 billion U.S. dollars between 2004 and 2011.

The report further establishes Israel as one of the world's largest arms buyers, purchasing weapons mainly from the United States. Between 2004 and 2011, Israel signed 9.5 billion U.S. dollars worth of weapon deals, making it the world's ninth largest arms buyer.

Saudi Arabia (with 75.7 billion U.S. dollars in arms purchases) tops the list, followed by India (46.6 billion U.S. dollars) and the United Arab Emirates (20.3 billion U.S. dollars).