Global military expenditure continued to grow and runs past $2 trillion in 2021 for the first time in history. Total global military expenditure increased by 0.7 per cent in 2021 in real terms to reach $2113 billion (Rs. 162,00,371 Crore). The United States was undisputed number one with $801 billion expenditure, that amounts to nearly 40 per cent of the total global military spending and slightly more than that of the collective expenditure of All other 9 countries in the top 10.
The remaining 9 largest spenders in 2021 were China, India, United Kingdom, Russia, France, Germany, Saudi Arabia, Japan and South Korea. The Top 10 countries together accounting for nearly 75 per cent of Global military expenditure, according to the new data of Stockholm International Peace Research Institute (SIPRI) released on Monday.
This was the seventh consecutive year that the Global military spending increased. According to SIPRI, China spent $293 billion with an increase of 4.7 per cent compared to 2020. India stood at distant third with spending of $76.6 billion. Russia spent $65.9 billion slightly less than United Kingdom ($68.4 billion).
“Even amid the economic fallout of the Covid-19 pandemic, world military spending hit record levels,” said Dr. Diego Lopes da Silva, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme.
