World military spending has exceeded two trillion dollars for the first time. The information has been given by SIPRI i.e. Stockholm International Peace Research Institute in its report. The five countries that have spent the most in the military sector in the year 2021 are America, China, India, Britain and Russia. According to SIPRI, the expenditure of these five countries in the military sector was 62% of the expenditure of the whole world.
According to the SIPRI report, India’s military expenditure in the year 2021 was $ 76.6 billion. There was an increase of 0.9 compared to 2020, while the increase in military expenditure compared to 2012 was 33%. According to the report, 64 per cent of India’s military budget was for the purchase of domestically made weapons to strengthen the domestic arms industry.
According to SIPRI, America’s military spending has declined by 1.4 per cent compared to 2020. In 2021, the US spent 24 per cent of its military spending on military research and development. About China, it has been informed in the report that it increased its military budget by 4.7% in 2021. According to SIPRI, China’s military expenditure has been increasing continuously for 27 years. According to the report, Russia also increased its military spending in 2021 in view of its possible war with Ukraine. Compared to the year 2020, Russia increased its military expenditure by 2.9%.
“Even with the economic impact of the Covid-19 pandemic, global military spending has reached record levels,” said Dr. Diego Lopez da Silva, a senior fellow at the SIPRI Military Expenditure and Weapons Production Program. “There has been a slowdown in real-time growth due to inflation. However, in nominal terms, military spending increased by 6.1 per cent.
As a result of economic recovery after the COVID-19 pandemic, defence spending amounted to 2.2% of world GDP, while in 2020 this figure reached 2.3%.
In 2021, US military spending reached $ 801 billion, down 1.4 per cent from 2020. Between 2012 and 2021, the United States increased funding for military research and development by 24 percent and reduced the cost of purchasing weapons by 6.4 per cent.
The second place was taken by China, which spent 293 billion US dollars on defence, which is 4.7 per cent more than in 2020. In third place was India’s military spending of $ 76.6 billion last year, up 0.9 per cent from 2020.
Highest military expenditure in the world
- 1) USA
- 2) China
- 3) India
- 4) UK
- 5) Russia
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