Global Military Expenditure 2021

Global Military Expenditure 2021

In 2021, the overall global military expenditure gained by 0.7 percent and reached $2113 billion. The five biggest countries to spend on military in 2021 included The United States, China, India, The United Kingdom as well as Russia. These countries accounted for 62 percent of the expenditure together. The global military expenses will grow in 2021. This year is considered to be the consecutive year that has witnessed increase. Dr. Diego Lopes da Silva said that even between the economic fallout of the Covid-19, the World military didn’t leave behind hitting record levels. He also said that a slowdown occurred in the rate of real-terms because of inflation. However, military expenditure increased by 6.1 per cent. 

United States 

The military expenditure of the United States accounted for $801 billion. This data belongs to 2021. However, a drop of 1.4 percent occurred from 2020. The United States funding for military growth increased by 24 percent between 2012 and 2021. 

Russia

In 2021, Russia increased its military expenses by 2.9 percent. This accounts for $65.9 billion. Lucie Béraud-Sudreau said that high oil as well as gas revenues proved to be of major help for Russia in increasing its military expenditure 2021. Between 2016 and 2019, Russian military expenditure had seen a decline. The major reason behind this is the low energy charges joined together with sanctions that were in revert to the annexation of Crimea of Russia in 2014. 

China

In 2021, China allocated around $293 billion to the military expenditure in 2021. China is considered to be the second largest spender for the military. Also, the military expenditure increased around 4.7 percent as compared to the expenditure in 2020. SIPRI Senior Researcher Dr Nan Tian said that the growing assertiveness of China is the main reason behind the military expenditure. 

Iran 

The military budget of Iran increased for the very first time in four years in 2021. The military budget rose to $24.6 billion. 

Nigeria 

In 2021, the military budget of Nigeria increased by 56 percent. This accounted for $4.5 billion overall. The increase in military expenditure came because of several security challenges including separatist insurgencies as well as violent extremism. 

Germany 

In 2021, Germany’s military expenditure was $56.0 billion. The military expenditure was known to be 1.4 percent less in comparison to 2020. The major reason behind this low spending is inflation. 

India Defense Budget

In 2021, the military expenditure rose to $76.6 billion. This marked a 0.9 percent increase as compared to 2020. The militaries of India along with China have continued to be in a border standoff in Eastern Ladakh. This standoff is from the previous 23 months. On May 5, 2020, this resulted in a violent clash in the Pangong lake regions. Currently, both the sides are having approximately 50,000 to 60,000 troops along the Line of Actual Control (LAC). 

On April 21, Defense minister Rajnath Singh said that the ongoing discussion with China for a peaceful resolution of the Eastern Ladakh will carry on and the situation will become better for everyone. 

In an address at the biannual conference of Army Commanders, Rajnath Singh also said that the Indian troops are brave and they are ready to face any situation. 

When the Russia and Ukraine war was going on, he asked the top Army commanders to be ready to face any possible security challenge that India can face in the future. 

In 2021, the military expenditure of India was $76.6 billion. India was considered to be the third highest spender in the world in terms of military expenditure. The expenditure of India was increased by 0.9 percent from 2020. Also, the expenditure of India was 33 percent from 2012. 

Conclusion 

In 2021, the overall global military expenditure gained by 0.7 percent and reached $2113 billion. The five biggest countries to spend on military in 2021 included The United States, China, India, The United Kingdom as well as Russia. Dr. Diego Lopes da Silva said that even between the economic fallout of the Covid-19, the World military didn’t leave behind hitting record levels. He also said that a slowdown occurred in the rate of real-terms because of inflation. However, military expenditure increased by 6.1 per cent. The military expenditure of the United States accounted for $801 billion. In 2021, Russia increased its military expenses by 2.9 percent. The military budget of Iran increased for the very first time in four years in 2021. In 2021, Germany’s military expenditure was $56.0 billion. In 2021, the military expenditure of India was $76.6 billion. India was considered to be the third highest spender in the world in terms of military expenditure. The expenditure of India was by 0.9 percent from 2020. Also, the expenditure of India was 33 percent from 2012.