After a brief hiatus at the end of the cold war, global arms spending has continued to rise and the notion of international disarmament seems as far away as ever. According to the Stockholm International Peace Research Institute (SIPRI), world military expenditure in 2005 was estimated at $1,118 billion, about 2.5 per cent of world GDP or $173 per capita. This represents an increase of 34 per cent over the period 1996-2005.
The US accounts for almost half of world arms spending, and about four fifths of the past decade’s increase. The UN’s total budget is about $20 billion per year, or $3 per capita worldwide.
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