Security

Chart: The Countries With The Highest Military Expenditure

Five countries accounted for 62% of global military expenditure last year and the US was in first place, followed by China and India.

According to the latest report by the Stockholm International Peace Research Institute (SIPRI), global defence spending grew to just under $2 trillion in 2020, a 2.6% increase on 2019 in real terms. That growth occurred in a year where global GDP contracted 4.4% due to the COVID-19 pandemic. Five countries accounted for 62% of global military expenditure last year and the US was in first place with $778 billion.

2020 was the third consecutive year of US military spending growth after seven years of continuous decline. Elsewhere, China was in second place with $252 billion and its military spending climbed for the 26th consecutive year. India was the world’s third-largest military spender last year with $72.9 billion, followed by Russia with $61.7 billion.

This article was first published on Statista.