By Bahattin Gonultas
ANKARA: World military expenditure rose by 1 percent in 2015, the first annual increase in four years, according to an international survey released Tuesday.
Specific geopolitical areas of interest were countries bordering Russia and Ukraine, and China's neighbors, as it seeks to develop disputed islets in the South China Sea.
The Stockholm International Peace Research Institute (SIPRI) -- behind the survey -- said in a statement Tuesday that total spending was an estimated $1.7 billion last year, equivalent to 2.3 percent of global Gross Domestic Product.
Top of the pile was the United States -- which continues to maintain the world's largest military expenditure. Despite U.S. spending falling by 2.4 percent it came in at $596 billion, almost twice that of second placed China, which increased spending by 7.4 percent to $215 billion.
Saudi Arabia placed third with an increase of 5.7 percent to $87.2 billion, while Russia placed fourth with a 7.5 percent increase to $66.4 billion.
SIPRI said that a combination of high oil prices and new oil discoveries had contributed to a surge in spending in many countries around the world in the past decade.
“However, the crash in oil prices that started in 2014 has begun to reverse this trend in many oil revenue-dependent countries. Further cuts in spending are expected in 2016,” it added.
Oil prices hit a peak of $115-a-barrel in June 2014, but have declined by more than 70 percent since then because of oversupply and low demand.
According to SIPRI, Iraq’s military expenditure rose by 536 percent between 2006 and 2015—the largest increase by any country during the period.
“Military spending in 2015 presents contrasting trends,” Sam Perlo-Freeman, head of SIPRI’s military expenditure project, said in a statement accompanying the results of the survey.
“On the one hand, spending trends reflect the escalating conflict and tension in many parts of the world; on the other hand, they show a clear break from the oil-fuelled surge in military spending of the past decade.”
Freeman added that the volatile economic and political situation has created an uncertain picture for years to come.
Military spending in Western and Central Europe was down by just 0.2 per cent in 2015, while spending in Central Europe was up 13 percent.
“There were particularly large increases in countries bordering Russia and Ukraine -- namely Estonia, Latvia, Lithuania, Poland, Romania and Slovakia -- which are those most concerned about Russia’s intentions following the crisis in Ukraine,” it said.
Military spending in Asia and Oceania rose by 5.4 percent in 2015.
"This was heavily influenced by China," said SIPRI
"Heightening tensions between China and various countries in the region contributed to substantial increases in expenditure by Indonesia, the Philippines and Viet Nam, and triggered the start of a reversal of the long-term downward trend in Japan’s military spending."
AA
