Baku. 24 April. REPORT.AZ/ Total world military expenditure up to $ 1686 billion in 2016.
Report informs, Stockholm International Peace Research Institute (SIPRI) report says.
World military expenditure rose for a second consecutive year to a total of $1686 billion in 2016, the first consecutive annual increase since 2011 when spending reached its peak of $ 1699 bln.
Trends and patterns in military expenditure vary considerably between regions. US military spending has risen again while in Saudi Arabia have significantly decreased.
Notably, the United States remains the country with the highest annual military expenditure in the world. US military spending grew by 1.7 per cent between 2015 and 2016 to $611 billion.
Military expenditure by China, which was the second largest spender in 2016, increased by 5.4 per cent to $215 billion, a much lower rate of growth than in previous years. Russia increased its spending by 5.9 per cent in 2016 to $69.2 billion, making it the third largest spender. Saudi Arabia was the third largest spender in 2015 but dropped to fourth position in 2016. Spending by Saudi Arabia fell by 30 per cent in 2016 to $63.7 billion, despite its continued involvement in regional wars. India’s military expenditure grew by 8.5 per cent in 2016 to $55.9 billion, making it the fifth largest spender.
Falling oil revenue and associated economic problems attached to the oil-price shock has forced many oil-exporting countries to reduce military spending,’ said Dr Nan Tian, Researcher with the SIPRI AMEX programme. ‘For example, between 2015 and 2016 Saudi Arabia had the biggest absolute decrease in spending of $25.8 bln.’
Authors of the report note the largest cuts in military expenditure in 2016 related to falling national oil revenues were in Venezuela (–56 per cent), South Sudan (–54 per cent), Azerbaijan (–36 per cent), Iraq (–36 per cent) and Saudi Arabia (–30 per cent). Other notable decreases were seen in Angola, Ecuador, Kazakhstan, Mexico, Oman and Peru.