Global Arms Sales Rise for First Time in Five Years
NOVANEWS
By Daily Sabah
Daily Sabah
Arms sales by the world’s top 100 arm producers rose 1.9 percent in 2016, the first year of growth in five years, with the United States and Western Europe taking an over 82 percent share, according to an international survey released Monday.
The Stockholm International Peace Research Institute (SIPRI) — behind the survey — said in a statement Monday that sales of arms and military services by the world’s largest arms-producing and military services companies — the SIPRI Top 100 — totaled $374.8 billion last year, excluding China.
The total arm sales were equivalent to nearly 0.5 percent of global Gross Domestic Product, up 38 percent since 2002.
Topping the list was the U.S., which continues to maintain the world’s largest military expendit...