Countries that spend the most money on their militaries, ranked
Massive military budgets
Political tensions continue to rise – and so do military budgets. The world's nations spent almost $2 trillion (£1.46tn) on their armed forces in 2020, an increase of 2.6% since 2019. And, according to the latest data from the Stockholm International Peace Research Institute (SIPRI), military spending accounted for 2.4% of the world's GDP in 2020, the biggest year-on-year growth for over a decade. Read on to discover the world's top military spenders and the countries currently missing their defence spending targets. All dollar values in US dollars.
Reference: Love Money: lovemoney staff