According to a fact sheet published by the Stockholm International Peace Research Institute, five countries account for over half the world's military spending.
The United States spends 36% of the total, followed by Russia with 6%, and France, Japan and the United Kingdom with about 5% each.
The 63 countries in Africa and Latin America together accounted for 5%.
The U.S. is also the largest supplier of arms, accounting for 44.5% of exports. Russia was the second largest supplier, with 17%.
Though the G-8 countries are worried about terrorism and internal conflicts, they are also responsible for more than 80% of all new weapons reaching the developing world, Amnesty International has declared. Amnesty said that armed groups such as al-Qaeda and countries such as India, Pakistan, Israel and Zimbabwe have acquired huge arsenals that can be traced back to G-8 nations.
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