The global military spending has surpassed an all-time high, passing $2 trillion in 2021, according to a report by a leading defence think-tank based in Sweden.
The United States, China, India, the United Kingdom and Russia were the top five defence spenders, together accounting for 62 percent of the global expenditure, according to new data published on Monday (25 Apr 2022) by the Stockholm International Peace Research Institute (SIPRI).
“In 2021 military spending rose for the seventh consecutive time to reach $2.1 trillion. That is the highest figure we have ever had,” Diego Lopes da Silva, senior researcher at SIPRI, told AFP news agency.
Despite the economic fallout of the global COVID pandemic, countries around the world increased their arsenals, with global military spending rising by 0.7 percent last year, according to SIPRI.
Russia, which invaded Ukraine on February 24, saw its spending grow by 2.9 percent – the third year of consecutive growth – to $65.9bn.