WORLD MILITARY SPENDING

WORLD MILITARY SPENDING

Subject: Defence / IR

Context: Total global military expenditure rose to $1981 billion last year, an increase of 2.6 per cent in real terms from 2019, according to new data published today by the Stockholm International Peace Research Institute (SIPRI).

Concept:

• The five biggest spenders in 2020, which together accounted for 62 per cent of global military expenditure, were the United States, China, India, Russia and the United Kingdom.
• The 2.6 per cent increase in world military spending came in a year when global gross domestic product (GDP) shrank by 4.4 per cent (October 2020 projection by the International Monetary Fund), largely due to the economic impacts of the Covid-19 pandemic.
• In 2020 US military expenditure reached an estimated $778 billion, representing an increase of 4.4 per cent over 2019. As the world’s largest military spender, the USA accounted for 39 per cent of total military expenditure in 2020.

Stockholm International Peace Research Institute

• This think tank is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
• It was established in 1966 at Stockholm (Sweden).
• It provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.