The Stockholm International Peace Research Institute (SIPRI) Report for 2022 has been released recently.
What are the findings of the report?
- Global military expenditure – The global military expenditure has reached an all-time high of $2.1 trillion. This was the seventh consecutive year that spending increased. United States, China, India, the United Kingdom and Russia were the top five defence spenders, together accounting for 62% of the global expenditure.
- Military expenditure of US – US military spending amounted to $801 billion in 2021, a drop of 1.4% from 2020. US military burden decreased slightly from 3.7% of GDP in 2020 to 5% in 2021. United States focuses more on military research and development. US funding for military R&D rose by 24% between 2012 and 2021.
- Defence spending of Russia & Ukraine – Defence spending accounted for 1% of Russia’s GDP. It is much higher than world’s average, and made Moscow the fifth largest spender in the world. On the other side, Ukraine’s military spending has risen by 72% since the annexation of Crimea. While spending declined by more than 8% in 2021 to $5.9bn, it still accounted for 2% of Ukraine’s GDP.
- European countries step up spending – As tensions have increased in Europe, more NATO countries have stepped up spending. Total military spending in Europe amounted to $418 billion and has been rising sharply since Russia annexed Crimea in 2014. Military budgets rose 3.0% from 2020 and stood 19% higher than in 2012.
- India’s military spending – India’s military spending of $76.6 billion ranked third highest in the world. This was up by 0.9% from 2020 and by 33% from 2012. In a push to strengthen the indigenous arms industry, 64% of capital outlays in the military budget of 2021 were earmarked for acquisitions of domestically produced arms.
About SIPRI –
- Stockholm International Peace Research Institute (SIPRI) is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
- Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
- SIPRI was established on the basis of a decision by the Swedish Parliament and receives a substantial part of its funding in the form of an annual grant from the Swedish Government.
- It releases the annual report ‘Trends in World Military Expenditure’.