US after Russia, China in military spending: Report

The United States was behind Russia and China in military spending last year, a new report from the Stockholm International Peace Research Institute (SIPRI) shows.

The SIPRI report said US military spending fell by 7.8 percent in 2013 while China’s spending increased 7.4 percent and Russia’s grew 4.8 percent last year.

According to the report, Russia spent a higher percentage of its gross domestic product on its military than the US did for the first time since 2003.

“A pattern has been established in recent years whereby military spending has fallen in the West — that is, in North America, Western and Central Europe, and Oceania — while it has increased in other regions,” the report said.

The US still hugely outspends its competitors despite its decrease in military spending last year.

US military spending was $640 billion in 2013, compared to an estimated $188 billion in China and $87.8 billion in Russia.

The US Congress passed the US military budget for 2013 that authorizes spending of $633 billion.

Last year, President Barack Obama warned about Pentagon’s spending reductions due to budget cuts.

Saudi Arabia also moved from seventh to fourth place on the list of top spenders, with a 14 percent increase to $67 billion.

The report summarizes public information on military expenditures, including those for arms as well as to support troops, personnel and administration costs, research, maintenance and construction projects.

Military spending worldwide amounts to $1.75 billion and Washington is responsible for more than one third of all military spending.