Global military spending hits $956 billion in 2003

Catholic New Times, July 4, 2004

STOCKHOLM -- World military spending surged during 2003, reaching $956 billion (U.S.), nearly half of it by the United States as it paid for missions in Iraq, Afghanistan and the war on terror, a prominent European think-tank said today.

The money has been effective in waging war, but threats of terror and weapons of mass destruction still exist, according to the Stockholm International Peace Research Institute (SIPRI) www.sipri.se

Military spending rose by 11 per cent, which the group called a "remarkable increase." The amount was up 18 per cent from 2001.

The $956 billion spent on defence costs worldwide corresponded to 2.7 per cent of the world's gross domestic product, according to the annual report.

"It's very close to the Cold War peak in 1987," said SIPRI researcher Elisabeth Skoens, who coauthored the report.

SIPRI also warned of fears that biotechnology research, particularly concerning human genes, could lead to the development of a new class of biological weapons.

"The free access to genetic sequence data for the human genome and a large number of other genomes, including for pathogenic micro-organisms, is a great scientific resource, but it could pose a significant threat if misused," the report said.

"It is something to be concerned about," he told The Associated Press, but added that no plausible threats have been made.

The United States led the world in defence spending, accounting for 47 per cent of the total, followed by Japan with five per cent and Britain, France and China, with four per cent each.

The figures were in line with estimates by Jane's Information Group, a spokesman from the company's London office told the AP.