World military spending rises to almost $2 trillion in 2020

The world’s military expenditures have risen by 2.6 percent in comparison to the previous year and reached $ 1.981 trillion – “the highest level since 1988” – a SIPRI report published on Monday said. Over the last decade, global military spending increased by almost 10 percent.

The five biggest spenders in 2020, which together accounted for 62 percent of global military expenditure, were the United States, China, India, Russia, and the United Kingdom. Military spending by China grew for the 26th consecutive year.

In 2020 US military expenditure reached an estimated $778 billion, representing an increase of 4.4 percent over 2019. As the world’s largest military spender, the USA accounted for 39 percent of total military expenditure in 2020. This was the third consecutive year of growth in US military spending, following seven years of continuous reductions.

China’s military expenditure, the second-highest in the world, is estimated to have totaled $252 billion in 2020. This represents an increase of 1.9 percent over 2019 and 76 percent over the decade 2011–20.

Russia’s military expenditure increased by 2.5 percent in 2020 to reach $61.7 billion. This was the second consecutive year of growth. Nevertheless, Russia’s actual military spending in 2020 was 6.6 percent lower than its initial military budget, a larger shortfall than in previous years.

With a total of $59.2 billion, the UK became the fifth largest spender in 2020. The UK’s military spending was 2.9 percent higher than in 2019 but 4.2 percent lower than in 2011. Germany increased its spending by 5.2 percent to $52.8 billion, making it the seventh-largest spender in 2020. Germany’s military expenditure was 28 percent higher than in 2011. Military spending across Europe rose by 4.0 percent in 2020.

In addition to China, India ($72.9 billion), Japan ($49.1 billion), South Korea ($45.7 billion) and Australia ($27.5 billion) were the largest military spenders in the Asia and Oceania region. All four countries increased their military spending between 2019 and 2020 and over the decade 2011–20.