$1.7 Trillion Global Spending on Military in 2017: Highest since End of Cold War
June 8, 2018
June 8, 2018: According to the latest report by the Stockholm International Peace Research Institute (SIPRI), in total, countries around the world spent $ 1.739 billion on arms in 2017. Although there was a marginal increase of 1.1 percent rise in real terms on 2016, the total global spending in 2017 is the highest since the end of the cold war.
This is an unprecedented amount of resources. The spending in 2017 represented 2.2 percent of global domestic product (GDP) or $ 230 per person. The ‘military burden’, which is “the military expenditure as a share of GDP” and which “assesses the proportion of national resources dedicated to military activities and the burden on the economy”, has fluctuated from a post-cold war high of 3.3 percent in 1992 to a low of 2.1 percent in 2014.
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