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Latest Sipri Report - Global Military Spending: These Countries Have Rearmed More - News

Latest Sipri Report – Global Military Spending: These Countries Have Rearmed More – News

  • Global spending on arms Latest Report According to the Stockholm Sibre Institute, a new level will be reached in 2021.
  • For the first time, countries around the world invested more than $2 trillion in their armed forces last year.
  • The USA, China, India, Great Britain and Russia have upgraded to the maximum.

The five countries the United States of America, China, India, Great Britain and Russia account for 62 percent of global military investment. According to Sipri, the total amount of spending on weapons in 2021 will be equal to 2.2% of the world’s GDP.

The United States is still the leader. Although US spending last year fell 1.4% compared to 2020, partly due to higher inflation, Washington spent $801 billion on its armed forces, more than any other country. This corresponds to a global share of 38 percent.

Russia prepares heavily before the invasion of Ukraine

Russia invested more money in its military in the run-up to its invasion of Ukraine than before. The report shows that Russian military spending rose 2.9 percent year-on-year to $65.9 billion in 2021. In 2021, Russia allocated 4.1% of its GDP to the military.

According to Sipri, the country of President Vladimir Putin has benefited from the income from the fossil fuel trade. Between 2016 and 2019, Russian spending fell due to lower energy prices and sanctions imposed in the wake of Russia’s annexation of Ukraine’s Crimea, but then rose again. On February 24, 2022, Russia finally invaded Ukraine.

Ukraine spent about six billion US dollars

Ukraine has also spent a lot of money on defense in relation to its overall budget and has more than doubled this investment in the past 10 years.

Stockholm Research Institute Sipri

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Sipri publishes an annual report on military spending around the world at the end of April. It is the most comprehensive data collection of its kind in the world.

Peace researchers rely on official government information about the defense budget and on other sources and statistics – so the numbers traditionally deviate from information provided by NATO and individual countries. Expenditures also include personnel expenditures, military aid, and military research and development.

In 2021, while spending has fallen by more than eight percent to about $6 billion, it still represents 3.2 percent of Ukraine’s GDP. According to the report, since Russia’s annexation of Crimea, Ukraine’s defense budget has grown by 72 percent, compared to ten years ago by up to 142 percent.