World Military Expenditure Tops $2 Trillion for First Time
The world military expenditure reached $2,113 billion in 2021, according to a report released on Tuesday by SIPRI, an independent international institute that conducts research on conflicts, armaments, disarmament, and arms control.
The United States led the board with $801 billion in military spending, followed by China, which spent $293 billion. These countries accounted for 38% and 14% of the global share, respectively.
India was the third-highest spender, with $76.6 billion spent last year, an increase of 0.9% from 2020 and 33% from 2012.
According to the SIPRI research, the top 5 countries with the highest military expenditure in the world accounted for $1,305 billion of the total $2,113 billion last year. Meanwhile, the top 15 countries spent $1717 billion, accounting for 81% of total global spending.
In addition, Iran has been ranked in the top 15 for the first time in 20 years, as the country increased its spending by 11% in 2021.
The report comes at a time when the world is still dealing with the fallout from the Russia-Ukraine conflict, which has been going on for more than two months.
The SIPRI findings, on the other hand, state that the economic effects of the Covid-19 pandemic have not slowed the rise in global military spending since 2015.
“As a result of the strong global economic recovery in 2021, global military spending as a share of global GDP reached 2.2 percent, down from 2.3 percent in 2020.” The report stated that “average military spending as a share of government expenditure in 2021 remained the same as in 2020, 5.9 percent.”
Here is a list of the top 15 countries in terms of SIPRI world military expenditure 2021, according to their respective figures and percentage of global share:
Here’s a list of the top 15 countries in the SIPRI world military expenditure 2021:
1. The US ($801 billion, accounting for 30%)
2. China ($292 billion, accounting for 14%)
3. India ($76.6 billion, accounting for 3.6%)
4. The UK ($68.4 billion, accounting for 3.2%)
5. Russia ($65.9 billion, accounting for 3.1%)
6. France ($56.6 billion, accounting for 2.7%)
7. Germany ($56 billion, accounting for 2.7%)
8. Saudi Arabia ($55.6 billion, accounting for 2.6%)
9. Japan ($54.1 billion, accounting for 2.6%)
10. South Korea ($50.2 billion, accounting for 2.4%)
11. Italy ($32 billion, accounting for 1.5%)
12. Australia ($31.8 billion, accounting for 1.5%)
13. Canada ($26.4 billion, accounting for 1.3%)
14. Iran ($24.6 billion, accounting for 1.2%)
15. Israel ($24.3 billion, accounting for 1.2%)
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