Global military expenditures

image of Global military expenditures

Global military expenditure, after many years of growth in the Cold War period, decreased from US$ 1.2 trillion in 1985 to $809 billion in 1998, reflecting cuts in every region except Asia, where spending was up by more than a quarter during the 1990s. During this time, the number of military personnel and the levels of weapons production and stockpiles were all reduced. According to the Stockholm International Peace Research Institute (SIPRI), the United States, which accounts for the single largest piece of the global spending pie, dropped its military spending by one third during the decade 1989-1999. The Russian Federation also reduced arms expenditures in that period; in 1998 it spent only one fifth of what the former Soviet Union had spent 10 years earlier.

Related Subject(s): Disarmament
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