The Russian governments published 2014 military budget is about 2.49 trillion rubles (approximately US$69.3 billion), the List of countries by military expenditures in the world behind the US and China. The official budget is set to rise to 3.03 trillion rubles (approximately US$83.7 billion) in 2015, and 3.36 trillion rubles (approximately US$93.9 billion) in 2016. As of 2014, Russias military budget is higher than any other European nation, and approximately 1/7th (14 percent) of the Military budget of the United States. In 2015, SIPRI found that Russia was the worlds second biggest exporter of major weapons for the period 2010-14, increasing exports by 37 per cent. India, China and Algeria accounted for almost 60 percent of total Russian exports. Asia and Oceania received 66 percent of Russian arms exports in 2010–14, Africa 12 percent and the Middle East 10 percent.. Who has a higher military budget, Russia or the US?