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Global spending on arms and armaments continued to rise over the past year.

The international peace research institute Sipri put the total turnover of the 25 largest international arms companies at a total of 361 billion US dollars (almost 300 billion euros) in 2019.

That is 8.5 percent more than in the previous year.

The report was published in Stockholm on Monday.

The most important traders are by far the United States.

The twelve US companies included in the ranking represent 61 percent of sales worldwide.

The five largest arms manufacturers Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics alone recorded sales of 166 billion US dollars (136 billion euros).

China follows in second place in the global arms trade with 16 percent.

The four Chinese companies listed by Sipri increased their sales by 4.8 percent within one year.

Sipri researcher Nan Tian explained this as follows: "Chinese arms companies benefit from military modernization programs for the People's Liberation Army." Most of the sales are in their own country.

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In third place in the global ranking is Russia with a share of 3.9 percent.

Foreign exports for Russian arms manufacturers are restricted by the sanctions resulting from the conflict in Ukraine and the occupation of the Crimean peninsula.

The revenues of the two listed companies decreased by a total of 634 million US dollars (522 million euros).

A third Russian producer dropped out of the top 25.

"Russia is a very strong player and has a strong defense industry," said Lucie Béraud-Sudreau, head of the Sipri research program on arms trade and military spending.

However, due to the economic situation, the modernization of the military has slowed down.

"Of course, this means a decline in sales for the Russian arms industry because its main client, the Russian government, orders fewer."

The environmental protection organization Greenpeace criticized the rise in armaments spending and called for a "radical rethink".

"Seldom has an undesirable development been shown so clearly: Hundreds of millions of people around the world are threatened by the corona pandemic, millions are infected and countless people do not have adequate medical care," said Greenpeace disarmament expert Alexander Lurz.

The Sipri figures showed "where the scarce money should not flow: ever further into the pockets of the international arms industry."

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The six largest Western European companies together made up 18 percent.

German companies do not rank among the top 25. The largest German defense company Rheinmetall increased its sales by 4 percent to 3.9 billion US dollars (3.2 billion euros). 

Béraud-Sudreau said the rise in arms spending was also a reflection of the tensions in international politics.

This development has already been observed since Russia occupied the Crimean Peninsula in 2014.

After US President Donald Trump, who has now been voted out, moved into the White House in 2016, it strengthened.