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NEW DELHI: World military expenditure totaled $1.75 trillion in 2012, with the United States spending almost 40 percent of it, according to figures released last week by Stockholm International Peace Research Institute (SIPRI). The world's expenditure has fallen by 0.5 per cent in real terms since 2011.
Following top spender US ($669 billion) were China ($158 billion) in the second place and Russia ($91 billion) in the third place. India with a military spend of $48 billion in 2012 was placed at 9 thrank in global rankings.
These figures are adjusted to inflation and calculated at constant 2011 prices in dollar terms. SIPRI defines 'military expenditure' as "all government spending on current military forces and activities, including salaries and benefits, operational expenses, arms and equipment purchases, military construction, research and development, and central administration, command and support".
The fall in military expenditure -the first since 1998-was driven by major spending cuts in the USA and Western and Central Europe, as well as in Australia, Canada and Japan, according to a SIPRI statement. The reductions were, however, substantially offset by increased spending in Asia, Eastern Europe, the Middle East and North Africa, and Latin America.
China increased its expenditure by 7.8 per cent ($11.5 billion). Russia, the third largest spender, increased its expenditure by 16 per cent ($12.3 billion). India's military expenditure decreased by about 3 percent ($1.4 billion) in 2012 compared to the preceding year in real terms.
'We are seeing what may be the beginning of a shift in the balance of world military spending from the rich Western countries to emerging regions, as austerity policies and the drawdown in Afghanistan reduce spending in the former, while economic growth funds continuing increases elsewhere,' said Dr Sam Perlo-Freeman, Director of SIPRI's Military Expenditure and Arms Production Programme in a SIPRI statement. 'However, the USA and its allies are still responsible for the great majority of world military spending. The NATO members together spent a trillion dollars.
Austerity policies also caused falls in military spending in most of Europe in 2012. Since the 2008 global financial crisis, 18 of the 31 countries in the European Union or European NATO have cut military spending by more than 10 per cent in real terms, SIPRI said .
'All the indications are that world military spending is likely to keep falling for the next two to three years-at least until NATO completes its withdrawal from Afghanistan at the end of 2014,' said Dr Perlo-Freeman, 'However, spending in emerging regions will probably go on rising, so the world total will probably bottom out after that.
World spent $1.75 trillion on military in 2012, says Stockholm institute - The Times of India
Following top spender US ($669 billion) were China ($158 billion) in the second place and Russia ($91 billion) in the third place. India with a military spend of $48 billion in 2012 was placed at 9 thrank in global rankings.
These figures are adjusted to inflation and calculated at constant 2011 prices in dollar terms. SIPRI defines 'military expenditure' as "all government spending on current military forces and activities, including salaries and benefits, operational expenses, arms and equipment purchases, military construction, research and development, and central administration, command and support".
The fall in military expenditure -the first since 1998-was driven by major spending cuts in the USA and Western and Central Europe, as well as in Australia, Canada and Japan, according to a SIPRI statement. The reductions were, however, substantially offset by increased spending in Asia, Eastern Europe, the Middle East and North Africa, and Latin America.
China increased its expenditure by 7.8 per cent ($11.5 billion). Russia, the third largest spender, increased its expenditure by 16 per cent ($12.3 billion). India's military expenditure decreased by about 3 percent ($1.4 billion) in 2012 compared to the preceding year in real terms.
'We are seeing what may be the beginning of a shift in the balance of world military spending from the rich Western countries to emerging regions, as austerity policies and the drawdown in Afghanistan reduce spending in the former, while economic growth funds continuing increases elsewhere,' said Dr Sam Perlo-Freeman, Director of SIPRI's Military Expenditure and Arms Production Programme in a SIPRI statement. 'However, the USA and its allies are still responsible for the great majority of world military spending. The NATO members together spent a trillion dollars.
Austerity policies also caused falls in military spending in most of Europe in 2012. Since the 2008 global financial crisis, 18 of the 31 countries in the European Union or European NATO have cut military spending by more than 10 per cent in real terms, SIPRI said .
'All the indications are that world military spending is likely to keep falling for the next two to three years-at least until NATO completes its withdrawal from Afghanistan at the end of 2014,' said Dr Perlo-Freeman, 'However, spending in emerging regions will probably go on rising, so the world total will probably bottom out after that.
World spent $1.75 trillion on military in 2012, says Stockholm institute - The Times of India
