World military spending exceeds $2 trillion

Created: 04/25/2022Updated: 04/25/2022 00:52

The USA remains the undisputed leader in arms spending with more than 800 billion dollars.

© Tom Reynolds/LOCKHEED MARTIN AERONAUTICS/dpa

Last year, a record $2 trillion was spent on armaments around the world.

The United States is the leader in military spending.

STOCKHOLM – In 2021, military spending in the world's countries exceeded the two trillion dollar mark for the first time.

They increased last year by 0.7 percent, adjusted for inflation, to $2.113 trillion (around €1.94 trillion), according to a report by the Stockholm peace research institute Sipri.

This means that spending has continued to rise in the second year of the corona pandemic.

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The significant economic recovery after the first Corona year 2020 meant that the share of military spending in global economic output fell slightly by 0.1 percentage points to 2.2 percent in 2021.

According to Sipri, Germany's percentage of gross domestic product (GDP) was 1.3 percent in 2021.

According to the peace researchers, German military spending fell by 1.4 percent year-on-year to $56 billion due to inflation.

This means that the Federal Republic is still the country with the seventh largest military expenditures worldwide.

The USA remains the undisputed leader with expenditures of 801 billion dollars.

dpa