Last years's global military spending increased by 3.6 percent to $1.917 trillion, with the United States, China, India, Russia and Saudi Arabia topping the list, data released by the Stockholm International Peace Research Institute (SIPRI) showed on Monday
MOSCOW (Pakistan Point News / Sputnik - 27th April, 2020) Last years's global military spending increased by 3.6 percent to $1.917 trillion, with the United States, China, India, Russia and Saudi Arabia topping the list, data released by the Stockholm International Peace Research Institute (SIPRI) showed on Monday.
"Global military expenditure is estimated to have been $1917 billion in 2019, the highest level since 1988. The total was 3.6 per cent higher in real terms than in 2018 and 7.2 per cent higher than in 2010," the report said.
According to SIPRI, global military spending in 2019 represented 2.2 percent of global gross domestic product (GDP) or $249 per person.
The United States remains the most powerful state in terms of military expenditure with $732 billion spent on defense, according to the institute's data.
"With military expenditure of $732 billion, the USA remained by far the largest spender in the world in 2019, accounting for 38 per cent of global military spending ... US military expenditure was 5.3 per cent higher in 2019 than in 2018," the research said.
China increased its military expenditure by 5.1 percent to $261 billion, being the world's second largest spender. India comes third, with its military budget amounting to $71.1 billion and increasing by 6.8 percent compared to 2018.
Russia came fourth in the ranking with its defense spending amounting to $65.1 billion and increasing by 4.5 percent compared to 2018. Saudi Arabia is in the fifth place with military expenditure amounting to $61.9 billion.
"Russia's military expenditure was $65.1 billion in 2019 and accounted for 88 per cent of military spending in Eastern Europe. Russian military expenditure has grown significantly over the past two decades. By 2019, it was 30 per cent higher than in 2010 and 175 per cent higher than in 2000. Between 2018 and 2019, Russia's military spending increased by 4.5 per cent and its military burden rose from 3.7 per cent of GDP to 3.9 per cent," the institute said.
In SIPRI's 2019 report on 2018 military spending, Russia ranked sixth with $61.4 billion, a 3.5 percent decrease compared to 2017.
At the same time, the report notes that a significant increase in military spending was observed in 2019 in the NATO countries of Central Europe. For instance, the defense spending in Bulgaria increased by 127 percent and a 17-percent increase was seen in Romania.
"Total spending by all 29 NATO members was $1035 billion in 2019," SIPRI said.
The SIPRI, founded in 1966, is an independent think tank focused on research into conflicts, arms and arms control and disarmament.
