Briefly: Worldwide spending on arms rises yet again (Int'l Herald Tribune)

Reuters, The Associated Press

Published: June 12, 2006

STOCKHOLM Military spending around the world increased in 2005 as energy prices rose and more peacekeeping missions threatened to overextend the United Nations and other international organizations, a Swedish peace institute said Monday.

A total of $1.12 trillion was spent on military products in 2005, an increase of 3.4 percent over 2004, when adjusted for inflation and changes in exchange rates, according to a report by the Stockholm International Peace Research Institute.

The United States accounted for 48 percent of all military spending, an increase of 1 percent from 2004, as its costly campaigns in Iraq and Afghanistan continued, the institute said. Established 40 years ago and largely financed by the Swedish government, the institute tracks the arms trade and analyzes military spending. (AP)
***
more: http://www.iht.com/articles/2006/06/12/news/briefs.php

Hey, we're down under 50% ! What happened?