Annual Global Military Expenditure Hits Highest Level in a Decade, SIPRI
Global military expenditures saw the first significant uptick during a decade in 2019, researchers say, marking the first year two Asian countries were among the highest three spenders.
The world’s nations spent a combined $1.9 trillion (1.78 trillion euros) on their militaries in 2019, consistent with a report released by the Stockholm International Peace Research Institute (SIPRI) on Monday. The five largest spenders in 2019, which accounted for 62 percent of expenditure, were the U.S, China, India, Russia, and Saudi Arabia.
Compared with 2018, that represented an annual growth of 3.6 percent, the big-spending surge since 2010. “This is that the highest level of paying since the 2008 global financial crisis and doubtless represents a peak in expenditure,” Dr. Nan Tian, a researcher at SIPRI, said during a handout. Global military spending in 2019 represented 2.2 percent of the worldwide gross domestic product (GDP), which equates to approximately $249 per person.
U.S remained far and away from the world’s largest spender in 2019 with $732 billion, nearly the maximum amount because the next ten spenders combined. U.S. military spending grew over the past two years following seven consecutive years of decline, primarily thanks to increased personnel costs amid higher recruiting alongside the modernization of conventional and weapon of mass destruction inventories. In 2019, military spending accounted for 3.4% of the U.S. GDP.
China was the world’s second-largest military spender in 2019, accounting for 14% of total global expenditure. Beijing spent an estimated $261 billion on its soldiers last year, a 5.1% increase in 2018, and 85% above in 2010. consistent with SIPRI, Chinese military expenditure has grown annually since 1994, and it’s closely matched the country’s economic process. Spending as a share of GDP has remained mostly unchanged over the past decade at an estimated 1.9%.
In 2019 India incurred a mammoth $71.1 billion in military expenditure, showing a growth of 6.8 percent. “India’s tensions and rivalry with both Pakistan and China are among the main drivers for its increased military spending,” says Siemon T. Wezeman, SIPRI Senior Researcher, during a statement. Whereas, Pakistan ranked 24th place, with military spending constituting 4pc of its GDP. Pakistan spends $10.3 billion in 2019 showing a growth of a meager 1.8 percent from 2018.
In addition to China and India, Japan ($47.6 billion) and South Korea ($43.9 billion) were the foremost significant military spenders in Asia and Oceania. Military expenditure within the region has risen per annum since a minimum of 1989.
Russia, in 2019, was the fourth-largest spender within the world and increased its military expenditure by 4.5 percent to $65.1 billion. “At 3.9 percent of its GDP, Russia’s military spending burden was among the very best in Europe in 2019,” says Alexandra Kuimova, Researcher at SIPRI. Saudi Arabia, albeit it’s spending levels fell by 16% between 2018 to 2019, it still pumped on the brink of $62 billion into its soldiers. That figure is like 8% of the country’s GDP.
Germany leads military expenditure increases in Europe, which is risen by 10pc in 2019 to $49.3 billion. This was the first substantial increase in spending among the highest 15 military spenders in 2019. “The growth in German military spending can partly be explained by the perception of an increased threat from Russia, shared by many North Atlantic Treaty Organization (NATO) member states,” says Diego Lopes da Silva, Researcher at SIPRI.
At an equivalent time, however, military spending by France and, therefore, the U.K. remained relatively stable. There have been sharp increases in military expenditure among NATO member states in Central Europe. For instance, Bulgaria’s increased by 127 percent, mainly thanks to payments for brand spanking new combat aircraft, and Romania’s rose by 17 percent.
Total military spending by all 29 NATO member states was $1035 billion in 2019.
Military expenditure in South America was relatively unchanged in 2019, at $52.8 billion. Brazil accounted for 51 percent of total military spending within the sub-region.
The combined military expenditure of states in Africa grew by 1.5 percent to an estimated $41.2 billion in 2019, the region’s first spending increase for five years. Military spending in South East Asia increased by 4.2 percent in 2019 to succeed in $40.5 billion.
The average military spending burden was 1.4 percent of GDP for countries within the Americas, 1.6 percent for Africa, 1.7 percent for Asia and Oceania, and Europe, and 4.5 percent for the center East.
Courtesy: Stockholm International Peace Research Institute (SIPRI)