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Stockholm Institute: 2004 World Military Spending Exceeded $1 Trillion

A prominent Swedish research firm says world military spending exceeded $1 trillion last year.

The Stockholm International Peace Research Institute says the United States accounted for 47 percent of the total spending.

It also says world military spending is only six percent lower than it was at its peak in 1987-1988 as the Cold War was ending.

The institute published its findings Tuesday in its annual report.

Some information for this story provided by AP and AFP.