In 2019, the worldwide military expenditure was 1,900 billion dollars. Overall, the increase in spending by the countries of the entire world on their military needs in 2019 was the biggest increase in the last decade.
The annual report of the Swedish institution Sipri states that in 2019, the worldwide military expenditure was $ 1,900 billion. This expenditure has increased by 3.6 percent over the previous year. Overall, the increase in spending by the countries of the entire world on their military needs in 2019 was the biggest increase in the last decade. “This is the peak of military spending after the end of the Cold War,” said researcher Nan Tian of Sipari.
America ranks first among all countries, spending an estimated $ 732 billion. This is 5.3 per cent more than the expenditure incurred in 2018 and is equal to 38 per cent of the worldwide expenditure. 2019 was the second consecutive year of increase in US military spending. Prior to this, there was a decline in US military spending for seven years.
China is at the second place which spent an estimated $ 261 billion. This was 5.1 percent more than the expenditure incurred in 2018. China’s spending has increased in the last 25 years with the expansion of its economy. His investment reflects his ambition of a “world class army”. Tian says, “China has openly stated that it really wants to compete with America as a military superpower.”
India is in third place. It is estimated that India’s military spending in 2019 was about $ 71 billion, which was 6.8 percent more than the expenditure made in 2018. For the first time in the history of the world, India and China have joined the list of the top three countries with the highest military expenditure in the world. This is the first time that two of the three countries with the highest military spending in the report are from Asia.
In 2019, Russia increased its military spending by 4.5 percent to 65 billion dollars. It is 3.9 percent of Russia’s GDP and according to Sipri’s researcher Aleksandra Kuimova, it is among the highest in Europe.
Saudi Arabia spent $ 61.9 billion. The military expenditure of these five countries is equal to 60 percent of the expenditure in the whole world.
Other countries worth noting include Germany, which increased its military spending by 10 percent to $ 49.3 billion in 2019, according to Sipri. This is the largest increase by percentage among the 15 highest spending countries. According to the report’s authors, the increase in Germany’s military spending may be partly due to the perceived threat from Russia.
According to Sipri’s researcher Nan Tian, ”The corona virus epidemic and its economic impact can also reverse this picture. The world is moving towards a global recession, and Tian says governments need to cut military spending on health and education.” Spending needs to be seen in front of spending needs. Tian says, “It may be possible to cut expenses from one year to three years, but will increase again in subsequent years.”