Total world military expenditure rose to $1,822 billion in 2018, representing an increase of 2.6% from 2017, according to new data from the think-tank Stockholm International Peace Research Institute (SIPRI).
The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60% of global military spending.
Military spending by the US increased for the first time since 2010, while spending by China grew for the 24th consecutive year, SIPRI found.
World military spending in 2018 represented 2.1% of global gross domestic product (GDP) or $239 per person. “In 2018 the USA and China accounted for half of the world’s military spending,” SIPRI quoted Dr Nan Tian, a researcher with its Arms and Military Expenditure (AMEX) programme, as saying.
‘The higher level of world military expenditure in 2018 is mainly the result of significant increases in spending by these two countries.” In 2018, India increased its military spending by 3.1% to $66.5 billion, SIPRI found, while military expenditure by Pakistan grew by 11% (the same level of growth as in 2017), to reach $11.4 billion in 2018.
(Adapted From The Indian Express)