DURBAN - According to figures from the Stockholm International Peace Research Institute, the total world military expenditure rose to $1,7 trillion in 2017.
That is a 1,1% increase compared to the figures of 2016.
Between 1999 and 2011 there was a continuous increase in military spending, however, the military spending between 2012 to 2016 was somewhat unchanged.
The researchers found that the total amount of military expenditure represented 2,2% of the global GDP or $230 (R2918,70) per person.
According to the SIPRI report, South Africa's military spending has decreased. South Africa is the second largest military spender in Sub-Saharan Africa.
South Africa has spent about $3,6 billion per year since 2012 on military equipment. In 2017, the military spending for South Africa decreased by 1,9%.
In 2014 South Africa imported military hardware worth R169,5 million. The equipment that they bought include aircraft, ammunition, small and electronics according to the National Conventional Arms Control Committee (NCACC).
One of the imported items was an R2,025 million helicopter from France.
Dr. Nan Tian, a researcher with the SIPRI Arms and Military Expenditure programme said that increase in military expenditure can be attributed to significant growth by countries in Asia and Oceania and the Middle East including countries like China, India and Saudi Arabia.
Dr. Tian added that at a global level, the amount of global spending is moving away from the Euro-Atlantic region.
The five countries that did the most amount of military spending include the United States, China, Saudi Arabia, Russia and India. The countries collectively accounted for 60% of the global military spending.
The United States continues to highest military expenditure. Last year the First World nation spent more on their military than the following seven countries combined. The United States spent $640 billion on military spending.
China is the second largest spender in the world and their military spending increased by 5,6% in 2017. The Asian country's military expenditure was $228 billion.
Russia's military expenditure for 2017 was 20% lower compared to 2016. The country spent $66,3 billion in military spending for 2017.
- BUSINESS REPORT ONLINE