Global military expenditure surpasses $2 trillion in 2021; India among the top five spenders World military expenditure continued to grow for the seventh consecutive year, reaching an all-time high of $2 trillion in 2021. According to a report released by defense think-tank Stockholm International peace Research Institute (SIPRI) on April 25, total global military expenditure has increased by 0.7 percent in real terms in 2021, to reach $2113 billion. The top five spenders in 2021 accounts for 62 percent of the global expenditure. Take a look…
April 26, 2022 / 05:09 PM IST
Russia increased its military expenditure for the third consecutive year by 2.9 percent in 2021, to $65.9 billion, while building forces to invade Ukraine. ‘High oil and gas revenues helped Russia to boost its military spending in 2021. Russian military expenditure had been in decline between 2016 and 2019 as a result of low energy prices combined with sanctions in response to Russia’s annexation of Crimea in 2014,’ said Lucie Béraud-Sudreau, Director of SIPRI’s Military Expenditure and Arms Production Programme.
The United Kingdom took the fourth position with a 3 percent increase in military spending to $68.4 billion in 2021. (Image: Reuters)
India ranked third among the world’s highest military spenders with $76.6 billion spending. The county saw an increase by 0.9 percent from 2020 and 33 percent from 2012 in its military spending. According to the SIPRI report, in a push to strengthen the indigenous arms industry, 64 per cent of capital outlays in the military budget of 2021 were earmarked for acquisitions of domestically produced arms.
China’s military spending has grown for 27 consecutive years. The second largest military spender has allocated an estimated $293 billion to its military in 2021, an increase of 4.7 percent compared to 2020. (Image: Reuters)
United States was the largest military spender in 2021, amounting to $801 billion. However, it saw a drop of 1.4 percent from 2020, as per the SIPRI report. During the period from 2012 to 2021, US funding for military research and development (R&D) increased by 24 percent, while arms procurement funding fell by 6.4 percent. In 2021 spending on both decreased – 1.2 percent drop in R&D and 5.4 percent drop in arms and procurement. (Image: Reuters)