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This data is contained in the report "Military Balance 2021", presented on 25 February by the London-based International Institute for Strategic Studies (IISS).
The authors of the report note that last year's increase in military spending was almost comparable to 2019, when the figure increased by 4%, while the global economy shrank by 4.4% during the year due to the coronavirus pandemic.
The US remains the leader in military spending, accounting for more than 40% of all global defence and arms spending. According to the report, Washington spent $738 billion for these purposes during the year, which is $53.4 billion more than a year earlier.
China with $193.3 billion military expenditures ranked second and India with $64.1 billion expenditures ranked third.
The top ten also includes Britain ($61.5 billion), Russia ($60.6 billion), France ($55 billion), Germany ($51.3 billion), Japan ($49.7 billion), Saudi Arabia ($48.5 billion) and South Korea ($40.4 billion).
source: iiss.org
The authors of the report note that last year's increase in military spending was almost comparable to 2019, when the figure increased by 4%, while the global economy shrank by 4.4% during the year due to the coronavirus pandemic.
The US remains the leader in military spending, accounting for more than 40% of all global defence and arms spending. According to the report, Washington spent $738 billion for these purposes during the year, which is $53.4 billion more than a year earlier.
China with $193.3 billion military expenditures ranked second and India with $64.1 billion expenditures ranked third.
The top ten also includes Britain ($61.5 billion), Russia ($60.6 billion), France ($55 billion), Germany ($51.3 billion), Japan ($49.7 billion), Saudi Arabia ($48.5 billion) and South Korea ($40.4 billion).
source: iiss.org
