Pakistan spent $11.3 billion on military purposes in 2021, equivalent to 3.8% of total GDP
The country is 23rd in the world when it comes to the highest military spending.
According to the Stockholm International Peace Research Institute (Sipri), Pakistan spent a staggering $11.3 billion for military purposes in 2021. This was a 0.7% decrease from 2020.
Sipri is an independent international institute that is dedicated to research in arms control and disarmament. Its report showed that Pakistan’s military expenditure is equivalent to 3.8% of its total GDP. The country is 23rd in the world when it comes to the highest military spending.
Military spending reaches record levels: report.
Despite the economic fallout of the Covid pandemic, countries around the world increased their arsenals, according to a report by the Stockholm International Peace Research Institutehttps://t.co/jxhgsu4yiB#AFPgraphics pic.twitter.com/vFIsKGWtxB
— AFP News Agency (@AFP) April 25, 2022
Global military spending saw an increase in 2021, setting a new record as Russia continued to enhance its military prior to its invasion of Ukraine. Although the world was hit by a global pandemic, countries across the world continued to strengthen their arsenals, as global military spending increased by 0.7%.
In 2021, the spending rose for the seventh continuous time, reaching an all-time high of $2.1 trillion. Russia’s spending grew by 2.9%, accounting for 4.1% of its GDP. This is much higher than the average, making the country the fifth-largest spender in the world.
Revenues of gas and oil helped the country in boosting its military expenditure. This happened as Russia gathered troops alongside the border of Ukraine, preceding the invasion of the country. Whether or not Russia will be able to sustain its spending is difficult to predict due to the wave of sanctions being imposed on it.
Researcher Lopes da Silva said that despite the tough sanctions, the country has higher energy prices through which they could afford their military expenditures. On the other side, Ukraine’s spending has increased by 72%.
The United States, which outspent any other nation by $801 billion, went against the global trend and decreased spending by 1.4%. Over the past decade, the US’ spending on research and development has increased by 24%, on the other hand, arms procurement has gone down by 6.4%.
China is the world’s second-biggest military spender at an estimated $293 billion, an increase of 4.7%.
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