US, China and Russia are top military spenders

US, China and Russia are top military spenders

Russia’s military budget in 2013 reached $68.8 billion — the world’s third largest after the US and China.
Russia’s 2013 military budget reached $68.8 billion, the third largest figure in the world, reports “Vedomosti” newspaper referring to the IHS Jane’s Annual Defense Budgets Review compiled by IHS Inc.

“The plan adopted by the State Duma boosts Russian defense spending from $69 billion in 2013 to $98 billion in 2016, putting Russia into third place in terms of spending. Military spending accounted for 15.7% of total budget expenditures in 2013; by 2016 this figure will reach 20.6%,” cites the company Craig Kafri, a senior analyst at IHS Jane’s Aerospace, Defense & Security. By 2015, the total defense expenditure of China and Russia will surpass the defense budgets of all 28 EU countries.

The study identifies several interesting trends in 2013, such as: four of five fastest growing arms markets located in the Middle East; Saudi Arabia’s defense budget increased 3 times in 10 years; by 2021, non-NATO countries will outpace NATO states in defense expenditure; by 2015, China will surpass the combined defense budgets of UK, France and Germany.

According to Fenella McGerty, senior analyst at IHS Jane’s Aerospace, Defense & Security, by 2015 China would spend $159.6 billion, compared to $149 billion combined spending of the three European countries.

Top Twenty — Defense Budget Ranking 2013
1. USA — $585.4 billion
2. China — $139.2 billion
3. Russia — $68.8 billion
4. UK — $58.8 billion
5. Japan — $56.8 billion
6. France — $53 billion
7. India — $46.1 billion
8. Germany — $44.6 billion
9. Saudi Arabia $42.8 billion
10. South Korea — $31.5 billion
11. Brazil — $29.5 billion
12. Australia — $29.5 billion
13. Italy — $27.7 billion
14. Turkey — $20.6 billion
15. Canada — $19.6 billion
16. Taiwan — $14.8 billion
17. Spain — $13.1 billion
18. Columbia — $13.1 billion
19. Israel — $12.09 billion
20. Algeria — $10.7 billion

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