Azerbaijan ranks fifth among countries with the highest share of military spending in GDP, Report informs referring to the Stockholm International Peace Research Institute (SIPRI).
Thus, according to SIPRI data, the share of Azerbaijan’s military spending in GDP is 5.3%.
At the same time, Oman (7.3%) ranks first in terms of this indicator, Kuwait is second (6.7%), Saudi Arabia is third (6.6%), and Algeria is fourth (5.6%).
According to the report, in general, countries spent $2.113 trillion worldwide on military needs in 2021. The indicator has grown for the seventh year in a row, growth in 2021 amounted to 0.7% in real terms. The United States, China, India, the UK and Russia reported the biggest military spending.