A country’s hard power is measured by its military. In addition, the military serves as a symbol of the state’s sovereignty and status quo. That is why huge countries all over the world pay billions of dollars to keep their militaries functioning. In 2020, global military spending is expected to reach $1,981 billion. Since 1988, global military spending has increased. The United States, the United Kingdom, Germany, France, Italy, and France account for half of all global military spending. Two-thirds of global military spending is spent in Asia and Oceania. Europe has a 19 percent participation, whereas Africa has only a 2.2 percent share. With a 5.1 percent increase from 2019 to 2020, Africa has the biggest percentage increase in military spending.
Insider Monkey explores the 25 countries with the highest military spending in the world. Indonesia is ranked 25th. The countries of the Association of Southeast Asian Nations rank third in terms of military budget. In 2020, Indonesia spent 0.9 percent of its GDP on the military. Algeria’s landmass makes it one of Africa’s largest countries. Military budget has increased by 30 percent between 2011 and 2020. Algeria spent $9.7 billion on defense in 2020, accounting for 6.7 percent of its GDP. Pakistan is ranked 23rd in the world on the list of countries with the largest military spending. Between 2011 and 2020, military spending climbed by 55 percent. In 2020, the government spent $10.4 billion on defense, accounting for 4% of GDP. Singapore is ranked 22nd. In 2020, the country spent 3.2 percent of its GDP on defense. From 2009-10 to 2013-2014, military spending climbed by 23% from 2011-20. Taiwan’s military expenditure amounts to $12.2 billion, or 1.9 percent of its GDP. The military budget has been increased by 5.5 percent between 2011 and 2020, compared to 2011-20. Taiwan is strategically located close to China. From 2019 to 2020, the Netherlands boosted its military spending by only 1.8 percent. The military budget has been boosted by 15% for the period 2011-2020. The rise in the military will benefit defense companies as a close member of NATO. Poland has the world’s 19th highest military budget. In 2020, Poland spent 2.2 percent of its GDP on military spending, up 8.7% from the previous year. The military budget has surged by 60 percent between 2011 and 2020. For more details, click 25 Countries With The Highest Military Spending In The World.
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