COVID Shrank the Global Economy, but U.S. Military Spending is Still More Than Next 11 Countries Combined

What's New

The world spent almost $2 trillion on militaries in 2020, according to the latest data on global military expenditures compiled by the Stockholm International Peace Research Institute (SIPRI). That's a military spending increase of 2.6 per cent in real terms since 2019, even as global gross domestic product (GDP) shrank by 4.4%

More Info