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The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies .
Import duty refers to taxes levied on imported goods, capital and services. The level of customs duties is a direct indicator of the openness of an economy to world ...
South Korea has one of the highest defense budgets in the world, ranking 9th globally in 2021, with a budget of nearly $46.7 billion U.S. dollars, [40] and the defense budget trends from 1975 to 2023 based on South Korea's 2015 GDP announced by the Ministry of National Defense are as follows, [41] and the actual annual military expenditure may ...
South Korea and North Korea have continued to pour resources into modernizing their militaries despite a frenzy of diplomacy since 2018, data shows, creating a point of tension that has sharpened ...
At the time of its creation, the country was looking to bolster its military; thus, domestic production would be needed to meet the demands of the military. [8] Combined with South Korea's large number of military personnel, the defense industry would contribute to reducing unemployment. By 1982, the unemployment rate was reduced to 4.4 percent.
According to North Korea's state news agency, military expenditures for 2010 made up 15.8 percent of the state budget. [31] Most analyses of North Korea's defence sector, however, estimate that defence spending constitutes between one-quarter and one-third of all government spending. As of 2003, according to the International Institute of ...
In the 1990s domestic consumption of luxury goods increased including high tech and electronics products which reduced exports which resulted in Korea's trade deficit and current account deficit. [3] In the mid-1990s Korea reduced tariff rates and import restriction on autos, high tech products and financial services.
The figure of military spending was a state secret, but estimated to be increased steadily, amounting to 75 percent increase in real terms during 2009 and 2018. However, there were also reports of off-budget spending. Vietnam has military cooperation with India and bought many of its new weapons. Its personnel are being trained by Australia and ...