Global military spending hit record levels in 2020 amid pandemic, says think-tank

Agence France-Presse

Posted at Feb 26 2021 12:28 AM

Global military spending hit record levels in 2020 amid pandemic, says think-tank 1
This handout photo courtesy of US Navy shows the aircraft carrier USS Nimitz and the guided-missile cruiser USS Philippine Sea steam in formation during a Strait of Hormuz transit on September 18, 2020. A US aircraft carrier passed the Strait of Hormuz to enter the Gulf on September 18 amid Washington threats to enforce "UN" sanctions without the backing of Security Council partners, the Navy announced. Elliott Schaudt, US Navy/AFP/file

Global military spending, driven in part by Chinese naval expansion, reached record levels in 2020 despite the impact of the coronavirus pandemic and ensuing economic contraction, a British think-tank said on Thursday.

The International Institute for Strategic Studies (IISS) said military spending reached $1.8 trillion (1.5 trillion euros) last year -- a 3.9 percent increase in real terms over figures for 2019.

The London-based think-tank said in its annual "Military Balance" publication that expenditure rose "despite the coronavirus pandemic and the subsequent contraction in global economic output".

The United States remained the world's largest defense spender in 2020, IISS said, accounting for 40 percent of $738 billion globally. 

China, by comparison, accounted for 10.6 percent or $193.3 billion.

Beijing's military spending was the driving force behind growth in Asia's overall defense expenditure, and accounted for 25 percent of the continent's spending in 2020. 

Asia's upward trend in military expenditure continued last year albeit at a slightly slower pace than in 2019.

"Several countries adjusted their defense budgets to redirect funds to crisis relief or economic stimulus measures," the IISS said. 

"However, others simply reduced or deferred planned spending growth rather than implementing cuts," it added.

The IISS also highlighted Chinese military expansion and the significant growth of its naval fleet, a response driven in part by to Beijing's ambitions in the South China Sea.

Total European defense spending grew by two percent in real terms in 2020, the IISS said.

Europe's NATO members also continued increasing military expenditure, continuing a trend seen every year since 2014 as threat perceptions sharpened following Russia's seizure of Crimea.

However, most NATO members are still far from the objective of devoting two percent of their GDP to defense by 2024. 

In 2020 only nine of the alliance's European members met the target.

"The commitment by key players to increase their defense budgets in 2021 and beyond signals an intention to avoid the cuts that followed the 2007−08 financial crisis," the report said referring to European nations like the UK, France, Germany and Italy.

In 2019, the world saw the largest recorded increase in military spending a decade, with 4 percent growth, fueled by rivalry between major powers and a race for new technologies. 


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