Global military expenditures reached an all-time high of nearly $2 trillion in 2020, according to a report by the Stockholm International Peace Research Institute (SIPRI). The total expenditure in 2020 was $1,981 billion, an increase of 2.6% compared to 2019.
The international peace institute's report said the five biggest spenders were the U.S., China, India, Russia and Britain, which collectively accounted for 62% of the global military expenditure.
The countries that had the largest increase in military budgets were Saudi Arabia, Russia, Israel and the U.S. The combined military spending of the 11 Middle Eastern countries covered by the report was $143 billion, a rise of 6.5% compared to 2019.
Dr. Diego Lopes da Silva from the SIPRI said that the military expenditures grew, but there were some countries, such as Chile and South Korea, that reallocated part of their military budgets to COVID-19 response. Brazil and Russia spent less than in recent years. According to Dr. da Silva, the COVID-19 pandemic did not have a significant impact on military expenditures in 2020.