Global Arms Trade Reaches $1.6 Trillion

World Military Spending Soars In Spite Of Recession -- BBC News

At a time when governments across the world have been borrowing heavily in order to spend, it seems the defence industry has benefited more than most.

Worldwide military expenditure reached $1,531bn (£1,040bn) last year, a 5.9% rise in real terms from 2008, according to Stockholm International Peace Research Institute (Sipri).

But growth in defence spending is not a new phenomenon.

Last year, while deficits ballooned in many countries, the world spent almost 50% more on arms and military operations than it did in 2000, Sipri's yearbook reveals.

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More News On Global Military Spending

Arms spending unaffected by financial crisis, says thinktank -- The Guardian
Global military spending soars despite crisis: report -- AFP
Global arms spending hits record despite downturn -- Reuters
Global arms spending tops $1.6T -- CBC News
Military spending not dented by economic crisis, says institute -- Sify News
SIPRI Yearbook shows increase of world military expenditure -- People's Daily Online
Rising commodity prices and military expenditure -- Commodity online