Defense News: Worldwide military spending is estimated to have reached $1.7 trillion in 2017, according to a new report from the Stockholm International Peace Research Institute. This is the highest level of military expenditure since the end of the cold war.
The top five biggest spenders were the United States, China, Saudi Arabia, Russia and India, which accounted for 60 percent of global military spending.
The U.S. spent $610 billion on its military in 2017, a little over a third of world wide expenditures. Although U.S. spending has decreased from 2008 levels by 14 percent, it still spends 2.7 times more than the next highest spender, China.
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