Russia the World's Third-largest Military Spender

Press Release
Wednesday, April 18, 2012

Russia's defence expenditure topped only by United States, China, in 2011

Russia’s military expenditures in 2011 totaled $71.9 billion, which made the country the world’s third largest military spender, the Stockholm International Peace Research Institute (SIPRI) think tank said in a recent report.

Last year, Russia increased its military spending by 9.3 percent, according to figures released by the SIPRI.

“Further increases in military spending are planned, notably in equipment, research and development (R&D) and support for the arms and military services industry over the period 2011–20, with plans to replace the majority of Russia’s mostly Soviet-era military equipment with modern weaponry by 2020,” the report said.

Six of the world’s traditional top military spenders—Brazil, France, Germany, India, the United Kingdom and the United States—in 2011 made cuts in their military budgets, in most cases in a bid to reduce budget deficits.

Military expenditures by the United States, the world’s largest military spender, in 2011 fell by 1.2 percent in real terms (or $8.7 billion in 2010 prices) and reached $711 billion, second was China with $143 billion.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Kongsberg, DNV GL Partner to Reduce Training Costs

Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training

Maritime Security

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

American Waterways Operators Elects Chairman

The members of the American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, elected a new slate of leaders

113 Migrants Drown in Libya-Italy Weekend Transits

An estimated 113 people died in four shipwrecks between Libya and Italy at the weekend as the crossing becomes the preferred sea route for migrants to Europe, the

News

Wind-powered Oil Recovery Project Green-lighted

The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that  wind-powered

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

US Coast Guard to Unveil Historic Lifeboat

A ceremony unveiling a historic lifeboat as a new static display in Chatham, Mass. is scheduled for 11 a.m. Friday at U.S. Coast Guard Station Chatham.   The

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0824 sec (12 req/sec)