Tri-Service
Global Defence Spending Hits £1.2 Trillion
Global military expenditure has hit almost £1.2 trillion ($1.7tr).
Defence spending rose by 1% in real terms last year according to the Stockholm International Peace Research Institute (SIPRI).
A report released by the organisation says it is the first rise since 2011.
The report says:
"The increase reflects continuing growth in Asia and Oceania, Central and Eastern Europe, and some Middle Eastern states. The decline in spending in the West is also levelling off. At the same time, spending decreased in Africa, and Latin America and the Caribbean"
According to the report the United States remains the world’s biggest spender by some distance. Even with its expenditure falling by 2.4 per cent the U.S spent £419 billion ($596bn) in 2015. That is nearly three times as much as much as China, the second biggest spender on £151bn ($215bn).
Saudi Arabia’s spending grew by 5.7 per cent to £61.3bn ($87.2bn). It is now the world’s third-largest spender. The rise comes despite falling oil revenues and is thought to be a result of its campaign in Yemen.
Russia increased spending by 7.5 per cent to £46.7bn ($66.4bn), although that's lower than projected in its budget.
Britain was the fifth biggest spender globally, ahead of India and France.
Although spending in Western Europe is continuing to go down, it is decreasing more slowly.
SIPRI senior researcher Sam Perlo-Freeman said.
"The reasons for the change in trend are Russia, IS and NATO politics."
The report also suggested there has been a rise of 5.4% across Asia and Oceania.
"Rising spending in Indonesia, the Philippines, Japan and Vietnam reflected tensions with China and North Korea."
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