Global military spending increased by 2.6% and reached $1.98 trillion in 2020, despite reallocations to fight the Covid-19 pandemic (Sipri).
The top five countries that spent the most in 2020 were the United States, China, India, Russia and the United Kingdom (62% of world spending). Despite the drop in the global Gross Domestic Product (GDP), the share of military spending in GDP reached 2.4% in 2020, against 2.2% in 2019.
The two largest military expenditures, American and Chinese, grew 4.4% (USD 778 billion) and 1.9% (USD 252 billion) respectively.
The table below shows the 15 largest military expenditures, 2019/2020 growth and share of GDP:
Source: Reuters, DefesaNet