Arms Spending Up 6% Worldwide

Arms Spending Up 6% Worldwide
June 10th, 2008  
Team Infidel

Topic: Arms Spending Up 6% Worldwide

Arms Spending Up 6% Worldwide
Philadelphia Inquirer
June 10, 2008
STOCKHOLM, Sweden - Global weapons spending rose 6 percent last year, a Swedish think tank said yesterday. The Stockholm International Peace Research Institute said nations spent $1.3 trillion on weapons in 2007. It attributed the rise partly to a strong global economy, which allowed countries to spend more on arms.
The institute's report said the United States spent $547 billion on weapons, an increase of 3.4 percent over 2006 and 45 percent of the global total. Britain was next, with $59.7 billion, followed by China, which pushed past France into third place with $58.3 billion, the report said.
Regionally, Eastern Europe increased military expenditure the most, mainly because of high spending by Russia, which used $35.4 billion on weaponry, up slightly from $34.7 billion.
-- AP

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