Arms race redux – SIPRI’s latest military expenditure data

World military spending is going up, according to data released this week by the Stockholm International Peace Research Institute (SIPRI), the most authoritative and comprehensive international source on military expenditure.1 According to SIPRI, the world total increased by 2.6% in real, inflation-adjusted terms, reaching an estimated $1,822 billion. The figure is almost certainly an underestimate, given that some countries are completely excluded due to a lack of data (notably Qatar, Syria, and North Korea). A number of other countries, typically those with large natural resource revenues such as the Gulf states, often exclude spending on arms imports from the limited information they publish, funding such purchases directly from oil revenues without including them in the official budget.

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