by Anup Shah
To print all information e.g. expanded side notes, shows alternative links, use the print version: http://www.globalissues.org/print/article/74
The world spends some $1,000 billion annually on the military. How is this so?
- World Military Spending Out Does Anything Else
As detailed further on the next page on military expenditure, world military spending has now reached one trillion dollars, close to Cold War levels.
As summarized from the Military Balance, 2000/2001, by the International Institute for Strategic Studies (October 2001), for the larger arms-purchasing nations each year:
- Arms procurement is normally 20-30% of their military budgets
- The main portion is usually on operations, maintenance and personnel
- Some 40 to 50 billion dollars are in actual deliveries, (that is, the delivery of sales, which can be many years after the initial contract is signed)
- Each year, around 30-35 billion dollars are made in actual sales (agreements, or signing of contracts).
In more recent years, annual sales of arms have risen to around $50-60 billion although the global financial crisis is slowly beginning to be felt in arms sales too.