The Stockholm International Peace Research Institute (SIPRI) published Tuesday, April 5 a report on Trends in World Military Expenditure in 2015.

According to SIPRI, Azerbaijan spent $3.0 billion in 2015, up 165% compared with 2006. Despite the drop in oil prices, the report says, Azerbaijan’s military expenditure was 8.0% higher in 2015 against 2014.

Azerbaijan is highly dependent on oil revenues and its preliminary 2016 budget indicates reductions in military spending, the Institute says.

With a 165% hike since 2006, Azerbaijan ranks 12th in the list of countries with the biggest increases and decreases in military spending in 2006–2015.

Armenia’s military expenditure in 2015 ($447 million) was substantially lower than that of its neighbor, but was up 7.7% from 2014 and up 71 per cent compared with 2006.

The United States, with total expenditure of $596 billion, remains by far the world’s largest military spender, at nearly three times the level of China, which is ranked second.

Global military expenditure in 2015 was an estimated $1676 billion, representing an increase of about 1.0% in real terms from 2014. Total expenditure was equivalent to 2.3% of global gross domestic product (GDP).