Stockholm International Institute: Nearly $ 2 trillion in global military spending in 2020

The Stockholm International Peace Research Institute (SIPRI) said in a report that global military spending rose to $ 1.981 trillion over the past year, an increase of 2.6 percent over the year 2019.
The institute stated that the 2.6 percent increase in global military spending came in a year in which global GDP shrank by 4.4 percent, according to the International Monetary Fund.

The report showed that military spending, as a share of global GDP, reached an average of 2.4 percent in 2020, up from 2.2 percent in 2019.

The Sipri Institute stated that the United States, China, India, Russia and Britain were the 5 largest spenders on arms, with 62 percent of total global military spending in 2020.

The institute indicated that countries such as Chile and South Korea have transferred part of their military allocations in 2020 to responding to the Corona epidemic, and their domestic efforts to combat the virus and enhance health care.

“It can be said with some certainty that the epidemic did not have a significant impact on global military spending in 2020,” a statement by the institute said.

Last year, US military spending reached $ 778 billion, which represents an increase of 4.4 percent from 2019, and as the largest military spending in the world, the United States accounted for 39 percent of total military spending in 2020. In growth for the third year in a row,
After 7 years of sales.

China came second as the largest military spender with a value of $ 252 billion in 2020, representing an increase of 1.9 percent from 2019 and 76 percent over 2011, as its spending increased for the 26th consecutive year.

Russia’s military spending increased by 2.5 percent in 2020 to reach $ 61.7 billion, this was the second consecutive year of growth, while Britain, with a total of $ 59.2 billion, became the fifth largest spender in 2020, and its military spending was 2.9 percent higher than 2019.