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[Graphic News] World military spending grows despite pandemic
Published : May 3, 2021 - 10:01
Updated : May 3, 2021 - 10:01




Military expenditure worldwide rose to nearly $2 trillion in 2020, defying the economic impact of the COVID-19 pandemic, researchers said.

Global military spending increased by 2.6 percent to $1.98 trillion in 2020, when global gross domestic product shrank 4.4 percent, according to a report from the Stockholm International Peace Research Institute.

The fact that military spending continued to increase in a year with an economic downturn meant the “military burden,” or the share of military spending out of total GDP, had increased as well.

The world’s five biggest spenders in 2020 were the United States, China, India, Russia and Britain.

South Korea was the 10th biggest military spender, as its expenditure reached $45.7 billion. (Yonhap)





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