{"id":917,"date":"2021-04-27T12:56:12","date_gmt":"2021-04-27T07:26:12","guid":{"rendered":"https:\/\/thepktalks.com\/?p=917"},"modified":"2021-04-27T12:56:12","modified_gmt":"2021-04-27T07:26:12","slug":"defence-expenditure-india-stand-at-3-position","status":"publish","type":"post","link":"https:\/\/www.thepktalks.com\/defence-expenditure-india-stand-at-3-position.html","title":{"rendered":"Global defence expenditure increases despite COVID.India at 3rd position."},"content":{"rendered":"

Global military expenditure rose by 2.6% to $1.98 trillion last year even as some defence funds were reallocated to fight the COVID 19 pandemic, the Stockholm International Peace Research Institute said in a report issued on Monday.<\/span><\/p>\n

The five biggest spenders in 2020, which together accounted for 62% of military spending worldwide, were the United States,China ,India, Russia and Britain in that order.<\/span><\/p>\n

We can say with some certainty that the pandemic did not have a significant impact on global military spending in 2020,” SIPRI researcher\u00a0Diego Lopes da Silva said in a statement.<\/span><\/p>\n

As global GDP declined because of the pandemic, military spending as a share of GDP reached a global average of 2.4% in 2020, up from 2.2% in 2019.<\/span><\/p>\n

Also read- What is blockchain technology?<\/a><\/span><\/p>\n

However, some countries such as Chile and South Korea redirected part of their planned military spending to their pandemic response. <\/span><\/p>\n

Several others including Brazil and Russia spent considerably less than their initial military budgets for 2020.<\/span><\/p>\n

U.S. military expenditure reached an estimated $778 billion last year, 4.4% than in 2019. <\/span><\/p>\n

With the world’s biggest defence budget, the United States accounted for 39% of total global military expenditure in 2020.<\/span><\/p>\n

\n
It was the third consecutive year of growth in U.S. military spending, following seven years of continuous reductions.<\/span><\/div>\n<\/div>\n
<\/div>\n
China’s military expenditure, the second highest in the world, is estimated to have totalled $252 billion in 2020, a rise of 1.9% from the previous tear. <\/span><\/div>\n
<\/div>\n
Chinese military spending has risen for 26 consecutive years, the longest series of uninterrupted increases by any country in SIPRI’s database.<\/span><\/div>\n
<\/div>\n
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