Increase in World Military Spending during Covid-19: SIPRI

  • According to the latest data published by Stockholm International Peace Research Institute (SIPRI), the military spending across the world rose by 2.6%. 
  • This came in a year when the global GDP shrank by 4.4% largely due to the economic impacts of the Covid-19 pandemic. 
GLOBAL
  • Military spending as a share of Gross Domestic Product (GDP), reached a global average of 2.4% in 2020, up from 2.2% in 2019.
  • The five biggest spenders in 2020, which together accounted for 62% of global military expenditure were: the United States>China>India>Russia>the United Kingdom.
  • The countries with the biggest increases in military burden among the top 15 spenders in 2020 were Saudi Arabia, Russia, Israel and US.
INDIA
  • India was the third largest military spender in the world in 2020, behind only the US and China.
  • India’s military expenditure was USD 72.9 billion. 
  • It accounted for 3.7% of the global military expenditure share.
  • India’s spending since 2019 grew by 2.1%.
SIPRI
  • Founded: 6 May 1966.
  • Headquarters: Solna.

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