#1: US
The US’ spend of $801 billion was a drop of 1.4 per cent from 2020. Its expenditure decreased from 3.7 per cent of GDP to 3.5 per cent of GDP last year. Funding for military research and development (R&D) rose by 24 per cent between 2012 and 2021. Funding for arms procurement fell by 6.4 per cent.
Also Read: India’s military spending at $76.6 bn 3rd highest in the world: SIPRI report
#2: China
China’s $293 billion expenditure was an increase of 4.7 per cent compared with 2020, amounting to an increase for 27 consecutive years.
#3: India
India’s military spending was up by 0.9 per cent from 2020 and 33 per cent from 2012. SIPRI stated that 64 per cent of capital outlays in the military budget of 2021 was earmarked for acquisitions of domestically produced arms in a push to strengthen the indigenous arms industry.
#4: UK
The country spent $68.4 billion in 2021, up 3 per cent from 2020.
#5: Russia
In the build-up to the war, Russia increased its military expenditure by 2.9 per cent in 2021, to $65.9 billion, marking the third consecutive year of growth. Its military spending was 4.1 per cent of the GDP. Russia’s ‘national defence’ budget line that accounts for three-quarters of the country’s total military spending was 14 per cent higher at $48.4 billion than what was budgeted at the end of 2020.
#6: Germany
The country spent $56.0 billion on its military in 2021, or 1.3 per cent of its GDP. Its military spending was 1.4 per cent lower compared than 2020’s due to inflation.
#7: Japan
Japan’s spend increased to $54.1 billion in 2021 after the government added $7 billion to military spending. This led to an increase in spending of 7.3 per cent, the highest since 1972.
#8: Australia
The country increased its military spending by 4 per cent to reach $31.8 billion.
#9: Iran
Iran’s military budget increased for the first time in four years to $24.6 billion. Funding for the Islamic Revolutionary Guard Corps grew 14 per cent as compared to 2020 and amounted to 34 per cent of the country’s total military expenditure.
#10: Qatar*
The country was the fifth largest spender in the Middle East with military spend of $11.6 billion, an increase of 434 per cent from 2010, which is when it last released its military spending data.
#11: Nigeria
On the back of numerous security challenges, Nigeria increased its military spending by 56 per cent in 2021 to reach $4.5 billion.