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US Military Expenditures Seven Times Higher Than Russia's in 2014

Sputnik News

19:20 13.04.2015(updated 19:44 13.04.2015)

The United States spent $610 billion on its military last year, almost three times more than the second-biggest spender, China, who is estimated to have spent $216 billion. Russia's defense spending is estimated at $84.5 billion, according to the Stockholm International Peace Research Institute.

MOSCOW (Sputnik) – Despite the fact that the United States has decreased its military spending in 2014, its expenditure was still seven times higher than Russia's, the Stockholm International Peace Research Institute reported Monday.

According to the institute's report, the United States spent $610 billion on its military last year, almost three times more than the second-biggest spender, China, who is estimated to have spent $216 billion. Russia's defense spending is estimated at $84.5 billion.

'US military spending continues to run at historically high levels and is around the same level in real terms as at its previous peak in the late 1980s,' the Institute said.

Both China and Russia increased their military spending by 9.7 and 8.1 percent respectively, whereas the US expenditures in 2014 dropped 6.5 percent.

In 2014, the United States accounted for 34 percent of all military spending in the world.

Despite such high levels of spending, US Senator Tom Cotton said that the country's defense budget had fallen to a historic low that reflects a policy of 'retreat.' Only 16 percent of all federal spending goes towards defense, Cotton said.

© Sputnik