The United States spent $529 billion, slightly less than the entire GDP of the Netherlands, on military operations in 2006, up 5 percent over the previous year, the Stockholm International Peace Research Institute (SIPRI) said in its latest year book. The institute conducts independent research on international security, armaments and disarmament.
"Taking both immediate and long-term factors into account, the overall past and future costs until year 2016 to the USA for the war in Iraq have been estimated at $2,267 billion," it said.
Military spending in China, which is modernising its People's Liberation Army, climbed to an estimated $49.5 billion last year from $44.3 billion in 2005, making China the biggest military spender in Asia and the fourth biggest in the world.
China and Japan, Britain and France accounted for about 4 to 5 percent each of global military expenditure last year, SIPRI said. The five biggest spenders' share of global military expenses was nearly two-thirds of the total.
The United States and Russia were the largest arms suppliers in 2002 through 2006, each accounting for about 30 percent of global shipments, while deliveries from EU members made up another 20 percent, the institute said.
[Reuters]
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