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Cost of conflict around the world: $14.3 trillion Open in fullscreen

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Cost of conflict around the world: $14.3 trillion

Syria has been ranked the least peaceful country in the world [AFP]

Date of publication: 18 June, 2015

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Annual report by Global Peace Index says the cost of violence reached a record $14.3 trillion in 2014, ranking Syria and Iraq as the least peaceful countries.
The world has become "slightly less peaceful" with the cost of violence reaching a record $14.3 trillion in 2014, the latest report by Global Peace Index (GPI) has revealed.

This year’s index showed that the world spent 13.4 percent of its gross domestic product (GDP) on costs associated with violence - equivalent to the total economic output of UK, France, Spain, Germany, Brazil and Canada.

According to the report, 78 countries had becomes less peaceful, while more than $3 trillion was poured into military spending.

The annual report ranks the nations of the world according to their level of peacefulness based on each country’s level of security and safety, the extent of domestic and international conflict and the degree of militarisation.

Middle East and North Africa rankings [GPI]

GPI found that the Middle East and North Africa (MENA) region witnessed the highest cost of violence in 2014.

The region has experienced more upheaval and uncertainty than any other over the past decade and suffered the largest decline.

It has moved from the fourth least peaceful, to the least peaceful region, with 13 out of its 19 countries becoming progressively worse.

Syria was ranked as the least peaceful country, followed by Iraq with war in both countries wreaking havoc on economies.

The estimated cost of conflict in Syria last year was 42 percent of the country’s GDP while Iraq spent 30 percent.

Libya saw the most severe deterioration, the ensuing civil war resulting in the sharpest deterioration in any country's score.

Egypt on the other hand witnessed an improvement in peace, rising nine places.

With numbers of displaced people increasing rapidly, providing services for refugees and internally displaced people was one of the biggest costs of last year’s violence.

The cost increased significantly by 267 percent since 2008 to $128 billion as figures reached 50 million - the highest level since World War Two.

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