by James Mallinson
As Visual Capitalist notes, the world’s relatively declining global and international conflicts are not reflected by money spent by world powers. The United States remains the top spender by a wide margin, making almost 40% of global military outlays alone, and increasing that by 6.2% from 2019 to 2020. The U.S.’s $778 billion is bigger than the $703.6 billion collectively spent by the remaining countries in the top ten.
In spite of its position as the top military spender, the U.S.’s relatively robust economy means that America isn’t extending itself as far as other nations – and doesn’t even make the top ten in terms of military spending as a percentage of Gross Domestic Product. The top position there is held by Oman, which spends a surprising 11% of its GDP on its military, and the top five spenders by percentage of GDP are all located in the Middle East or North Africa, reflecting the long-standing tensions in the region.
More visuals and information on global military expenditures are available at the Stockholm International Peace Research Institute’s website.