N. Korea Ranks First In World’s Top Military Spenders List

  • Our Bureau
  • 11:12 AM, December 23, 2016
  • 2776
N. Korea Ranks First In World’s Top Military Spenders List
N. Korea Rank First In World’s Top Military Spenders List

North Korea has topped the list of world’s largest military spender relative to its gross domestic product (GDP) between 2004-2014, the US State Department report said Thursday.

According to State Department’s ‘World Military Expenditures and Arms Transfers 2016’ report, the North's military expenditures accounts for 23.3 percent of country’s GDP of $15 billion during that period. It I averaged about US$3.5 billion a year.

Oman is second on the list, spending 11.4 percent of its GDP on the military, followed by Saudi Arabia with 8.6 percent, South Sudan with 8.4 percent and the African nation of Eritrea with 6.9 percent.

Among the major military powerhouses, the U.S. was ranked 15th at four-point-three percent, followed by Russia at 20th with three-point-eight percent and the U.K. at 53rd with two-point-three percent. China was 68th with two percent and Japan 136th with one percent. 

South Korea spent two-point-six percent of its GDP on the military budget, placing it at 47th.

Also Read

N. Korea To launch Musudan Missile In 3 days

November 2, 2016 @ 12:01 PM

N.Korea Modernizing Conventional, Mass Destructive Weapons

September 3, 2016 @ 11:00 AM

N. Korea To Develop Larger-Class Submarine For Missile Launch

August 25, 2016 @ 02:38 PM

N. Korea Fires Three Ballistic Missiles: South Korean Military

July 19, 2016 @ 09:05 AM

N. Korea Test-Fires Submarine-launched Ballistic Missile

July 11, 2016 @ 09:14 AM

N. Korea Tests New Ballistic Missile Rocket ‘Hwasong-12’

May 15, 2017 @ 09:54 AM

N. Korea’s KN-17 Ballistic Missile Launch Fails: Report

April 29, 2017 @ 02:28 PM

South Korea To Develop Laser Weapons By 2020 To Counter North Korea's

January 6, 2017 @ 02:27 PM