World military spending continued to grow in 2021, reaching an all-time high of US$ 2.1 trillion. This was the seventh consecutive year that spending increased, according to the latest data on military spending published by the Stockholm International Peace Research Institute (SIPRI).
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As military expenditure worldwide reached a record level in the second year of the Covid-19 pandemic in 2021, the US, China and India were the top three spenders, according to a report by Stockholm Peace Research Institute today.