Russia's foreign arms exports rose to a value of $10.7 billion (8.2 billion euros) in 2011 despite a ban on weapons sales to its former important client Libya, the state arms export agency said Thursday.

The figure represents an increase from $8.7 billion (6.6 billion euros) in 2010, the Rosoboronexport arms agency said, according to Russian news agencies.

But it said that the arms embargo on Libya, imposed last year in line with Moscow's support for UN sanctions against Moamer Kadhafi before he was ousted, seriously hit Russia's potential export revenues.

"Because of the embargo, we have lost about $4 billion (3 million euros)," said Rosoboronexport's chief executive Anatoly Isaikin, according to news agency Interfax.

He said that the main markets for Russian weapons among 57 countries supplied in 2011 included India, Venezuela and Asia-Pacific states.

Air defence technology accounted for just over half of all exports.

Isaikin expressed confidence that revenues would be maintained this year.

"We managed to keep our order book at the level of $33-35 billion (25.1-26.7 billion euros) and I think that this trend will continue in 2012-2013," he said, according to Interfax.