At the end of 2016 China ranked the seconds in military spending

Almaty. April 24. Silkroadnews – Total world military expenditure rose to $1686 billion in 2016, an increase of 0.4 per cent in real terms from 2015, data by the Stockholm International Peace Research Institute (SIPRI) shows, RBC writes.

The United States retained the first place in terms of military expenditure: in 2016 the military spending here grew by 1.7% and reached $611 billion. China is the second largest spender with an increase of 5.4% to $215 billion in monetary terms. Having moved Saudi Arabia to the fourth place Russia, according to SIPRI, became the third largest spender. India ranked the fifth with 8.5% military budget growth to $55.9 billion in 2016.

European states’ military spending rose for the second consecutive years with 2.6% growth and Italy as the most notable increase of 11%.

The largest drop in military expenditures was demonstrated by oil-dependent countries, the researchers related this to the fall in world oil prices. Along with Saudi Arabia, military spending was reduced by Venezuela (-56%), South Sudan (-54%), Azerbaijan (-36%), Iraq (-36%). Other notable decreases were seen in Angola, Ecuador, Kazakhstan, Mexico, Oman and Peru.