Report finds over $1 trillion per year is spent on arms worldwide
{{date|June 7, 2005}}

[[Image:AGM-65 Maverick.jpg|thumb|An [[w:AGM-65 Maverick|AGM-65 Maverick]] air-to-surface tactical missile developed in the United States. According to the report, almost half the world's military spending is by the United States.]]

According to a new report by the [[w:Stockholm International Peace Research Institute|Stockholm International Peace Research Institute]] (SIPRI), total world military spending was $1.35 [[w:trillion|trillion]] in 2004. The institute says that this is just 6% off the all time record, set in 1987 at the end of the [[w:Cold War|Cold War]]. However this record could soon be shattered as spending jumped 5% last year alone.

In a stark example of the huge amount spent on the military by the [[United States]], SIPRI revealed that almost half of all spending is by the US, $455bn or 47% to be exact. This figure is greater than the ''combined'' spending of the next 32 heaviest spenders. US spending on its armed forces now stands at 3.9% of its [[w:GDP|GDP]], less than the 6% during the Cold War, but more than the 3% reported the previous year.

The top five spenders in 2004 were as follows:

# [[w:United States|United States of America]]
# [[United Kingdom]]
# [[France]]
# [[w:Japan|Japan]]
# [[w:China|China]]

==Sources==
*[http://yearbook2005.sipri.org/highl/highlights SIPRI Yearbook 2005]
*{{source|url=http://news.bbc.co.uk/1/hi/business/4617721.stm| title= Weapons spending tops $1 trillion | author= |pub=BBC News|date=June 7, 2005}}
*{{source|url=http://www.usatoday.com/news/world/2005-06-07-world-military_x.htm?POE=NEWISVA| title=Report: World military spending tops $1T in 2004 | author= |pub=USA Today|date=June 7, 2005}}
*{{source|url=http://money.cnn.com/2005/06/07/news/international/arms_spending.reut/| title=World military spends $1 trillion in '04 | author=Reuters |pub=CNN|date=June 7, 2005}}

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[[Category:Politics and conflicts]]
[[Category:Economy and business]]
[[Category:North America]]
[[Category:United States]]
[[Category:Europe]]
[[Category:Sweden]]
AGM-65 Maverick air-to-surface tactical missile developed in the United States. According to the report, almost half the world's military spending is by the United States.

According to a new report by the Stockholm International Peace Research Institute (SIPRI), total world military spending was $1.35 trillion in 2004. The institute says that this is just 6% off the all time record, set in 1987 at the end of the Cold War. However this record could soon be shattered as spending jumped 5% last year alone.

In a stark example of the huge amount spent on the military by the United States, SIPRI revealed that almost half of all spending is by the US, $455bn or 47% to be exact. This figure is greater than the combined spending of the next 32 heaviest spenders. US spending on its armed forces now stands at 3.9% of its GDP, less than the 6% during the Cold War, but more than the 3% reported the previous year.

The top five spenders in 2004 were as follows:

# United States of America
# United Kingdom
# France
# Japan
# China
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