World’s 20 Biggest Military Spenders - FOW 24 NEWS

728x90 AdSpace

TRAIN NIGERIA PROJECT

TRAIN NIGERIA PROJECT
TRAIN-NIGERIA, LEARN NIGERIA PROJECT
Trending

World’s 20 Biggest Military Spenders

The recently released IHS Jane’s Annual Defence Budgets Report has revealed the world’s largest defence budgets in 2018.

Global defence spending rose to $1.57 trillion in 2018 according to the report, kicking off what is forecast to be a decade of stronger global defence expenditure.
“Defence spending returned to a healthy rate of growth in 2018,” said Fenella McGerty, principal analyst for IHS Jane’s. “As a result, defence spending should recover to pre-financial crisis levels by 2018”.
According to the report, the United States is still king with its expenditure representing about 40% of the total Global Defence budget. “Since 9/11, over $9.35 trillion has been allocated to the US defence budget, with the Overseas Contingency Operations (OCO) accounting for $1.62 trillion or 17.3% of the total US Department of Defense budget,” said Guy Eastman, senior analyst, IHS Jane’s.
“After 9/11 a buildup took place through 2010 to support operations in the Middle East and elsewhere, followed by decreasing OCO budgets and troop reductions, bringing the US Department of Defense (DoD) budget to the 2018 value of $622 billion,” said Eastman.
The report noted that China’s defence budget is expected to almost double within 10 years, from $123 billion in 2010 to $233 billion in 2020, while NATO’s defence budget also increased for the first time since 2010 following challenges posed by the Islamic State and Russia.
India overtook Saudi Arabia and Russia to become one of the top five defence spenders globally. This combined with the weak pound could see India overtake the UK by 2018, the report said.
Below are Top 20 defence budgets for 2015 and 2016:

Country 2015 Country 2016
United States $616bn United States $622bn
China $181bn China $191.8bn
United Kingdom $53.5bn United Kingdom $53.8bn
Russian Federation $51.8bn India $50.7bn
Saudi Arabia $50.5bn Saudi Arabia $48.7bn
India $46.7bn Russian Federation $48.5bn
France $44.2bn France $44.4bn
Japan $42.2bn Japan $41.7bn
Germany $36bn Germany $35.8bn
South Korea $32.3bn South Korea $33.5bn
Australia $27,445 Australia $26.8bn
Brazil $24,439 Italy $23bn
Italy $22,986 Brazil $23bn
UAE $18.6bn UAE $19bn
Canada $14.7bn Canada $14bn
Taiwan $13.7bn Israel $13.8bn
Israel $13.3bn Taiwan $13.8bn
Turkey $12.1bn Turkey $12.7bn
Spain $11bn Spain $11bn
Iraq $10.7bn Algeria $10.5bn
World’s 20 Biggest Military Spenders Reviewed by FOW 24 News on February 08, 2018 Rating: 5 The recently released IHS Jane’s Annual Defence Budgets Report has revealed the world’s largest defence budgets in 2018.

No comments: