Scientific progress in the world is increasing in leap and bounds but this progress is followed by the construction of weapons of mass destruction. The Stockholm International Peace Research Institute (SIPRI) reports that the world's military spending in 2016 was $1686 billion. It is 2.2% of the global GDP or $227 per person. In 2011, the world military expenditure reached at the highest level of $1699 billion.
Here are the names of countries with the largest military expenditures in the world:
1. United States of America
America's defence spending is more than the total defence budget of top nine military spender countries of the world. The US military budget for the fiscal year 2018 is $ 824.6 billion, which is 36% of the military spending of the whole world.
Since the year 2016, its rate of growth had decreased because the US government has decided to return American troops from Afghanistan and Iraq. Military spending of the United States is 3.3 percent of its Gross Domestic Product. Between FY 2013 and 2016, India bought weapons worth Rs 29000 crores from the USA. That is about half of the 53,685 crore spent by India in this period.
Here it is worthy to mention that the USA spends the 1 trillion dollars on social security; the most by any country in the world.
2. China: According to the statistics of the Stockholm International Peace Research Institute (SIPRI), China is the second biggest military spender in the world after the US. China's total defense spending is $215 billion, which is 1.3% of its total GDP. A huge 13% of the total military spending of the world is done by the China.
China's defense budget is almost four times of the Indian defence budget. In 2012-16 China was the world's third largest arms exporter, which surpassed Germany, France and the UK. During 2012-16, Chinese weapons export increased 74%.
3.Russia: Russia's total defence expenditure is $ 69 billion, which is 4.1% of the total military expenditure of the whole world. This expenditure put it at third place in the world's largest military spender. In the period of 2013 to 2016, India has purchased arms from Russia worth Rs. 8374 crores. Thus India buys most weapons from Russia after the US.
Russia has remained the world's second largest arms exporter from the past five years. Russia' contribution in the total arms export is 17%. It got export orders worth $45 billion in the first quarter of the year 2017.
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4. Saudi Arabia: Saudi Arabia spends $63.7 billion annually on its defence expenditure and comes at fourth place. It contributes around 3.8% of the world's military expenditure.
In 2010, the country had bought weapons of worth $1083 million of weapons, which increased to $ 3347 million in 2015, but in 2016, it had decreased to $2979 million. In 2014, Saudi Arabia was the world's largest importer (spent $ 6.5 billion), but now it has come at second and its share in the world arms imports is 5%.
5. India: Military expenditure of India increased by 8.5 percent in 2016 to $ 55.9 billion, making it the fifth largest military spending country in the world. in the year 2014 it was the second largest importer but in 2016 it surpassed Saudi Arabia and secured first position and still on the top of the list. At present, India imports 14% of the world's total arms import. India spends 1.6% of its total GDP on defence budget.
6.France: France's total defence spending is $ 55.7 billion, which is 3.3% of the world's total military spending. The contribution of France in the total arm export of the world is 5%. In 2016, France received arm export order worth $ 15.88 billion which is lesser than the $16.93 billion of 2015.
France's 23 percent share of export goes to European Union, 22% to Asia and 21% to African continent. Meanwhile, 40 percent of France's defence import comes from the European Union and 17 percent from the USA.
7. Britain: Britain is the seventh highest military spending country in the world. Its annual defence expenditure is around $ 48.3 billion. It is the 6th largest defence exporter in the world. Its share in the world export is 4%. The surprising fact is that this country is not included in the list of top 10 importing country. This country spends about 2.4% of its GDP on defense budget.
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8. Japan: Before the Second World War this country was considered very strong in terms of defence but after the nuclear attack of 1945 it owe to reduce its military expenditure to ensure safe world. Now currently it contributes only 2.7% of the world's total defence expenditure.
This country spends about 1% of its GDP on defence budget. Now Japan is known as a peace-loving country. An interesting fact is that now this country neither comes into the world's top 10 largest arms exporting countries nor top importer of the arms and ammunition.
9. Germany: It is the achievement of the Germany that after getting destroyed in the Second World War this country is still counted among the developed countries of the world. It spends $ 41 billion on defence spending, which is only 2.4% of the world's total defense expenditure. This country is the fourth largest arms exporter in the world and its share in world export is 5%.
10. South Korea: South Korea spends $ 36.8 billion annually on defense expenditure, which is only 2.2% of the world's total defence expenditure. It is on the 9th place in the world's largest arms importers. It imports 3% of the world's total weapons.
In this way you have read that which countries of the world spend the highest amount on defence expenditure. Statistics of the Stockholm International Peace Research Institute (SIPRI) show that only the top 15 countries of the world account for 81% of the world's total defence expenditure. The total defense expenditure of these 15 countries is $ 1,360 billion.
SIPRI's report also shows that defence expenditure has decreased in Africa, Central America, South America and the Caribbean countries, while it is increased in Asia, Europe and north USA.
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