World military spending of over $ 2 trillion; Top Consumers in the US, China, India, UK and Russia: Think Tank
World military spending of over $ 2 trillion;  Top Consumers in the US, China, India, UK and Russia: Think Tank

World military spending of over $ 2 trillion; Top Consumers in the US, China, India, UK and Russia: Think Tank

According to the Stockholm International Peace Research Institute (SIPRI), world military spending rose to $ 2113 billion, with the United States, China, India, the United Kingdom and Russia as the top five users last year.

Total military spending rose 0.7 percent in constant prices, SIPRI said, as the United States, China, India, Britain and Russia accounted for 62 percent of spending.

“Even in the midst of the economic downturn of the COVID-19 pandemic, world military spending hit record levels,” said SIPRI’s Dr. Diego Lopes da Silva.

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The think tank said the U.S. military spent $ 801 billion in 2021, down 1.4 percent from the year before, but its military research and development increased by 24 percent between 2012 and 2021, as the U.S. focuses on the “next generation” technologies “.

Russia, which is currently at war with Ukraine, had increased its military spending by 2.9 percent last year to $ 65.9 billion. SIPRI said it was the third year in a row of growth in Russia’s military spending.

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SIPRI’s Lucie BĂ©raud-Sudreau said: “High oil and gas revenues helped Russia increase its military spending in 2021.”

Russia also increased its national defense budget line, it said, although Ukraine’s military spending rose 72 percent since Russia’s annexation of Crimea in 2014.

China’s military budget rose 4.7 percent when President Xi’s regime allocated an estimated $ 293 billion in 2021. In fact, the Japanese government added $ 7 billion to military spending, the military observer said in his report.

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“China’s growing confidence in and around the South and East China Seas has become a major driver of military spending in countries such as Australia and Japan,” SIPRI said.

India spent $ 76.6 billion, which was the third highest in the world.

India’s military spending increased 0.9 percent compared to 2020. India’s military spending increased 33 percent from 2012 with 64 percent capital expenditure in the military budget last year earmarked for domestically produced weapons.

(With input from agencies)


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