Excludingpensions, the new defense budget totals $49.6 billion, an increase of more than 3 percent from the previous year's $47.98 billion. New capital expenditure of $18.48 billion meant forWorldmilitary expenditure in 2020 is estimated to have been $1981 billion, the highest level since 1988—the earliest year for which SIPRI has a consist - ent estimate for total global military spending. World military expenditure in 2020 was 2.6 per cent higher in real terms than in 2019 and 9.3 per cent higher than in 2011 (see figure 1).
PublishedMarch 5, 2013. Red alert! China plans to spend 720 billion yuan ($114 billion) on its military this year, according to a budget released at the National People's Congress this morning
Thisfirst list is a list of countries by military expenditure share of GDP—more specifically, a list of the top 15 countries by percentage share in recent years—the amount spent by a nation on its military as a share of its GDP. The second list presents this as a share of the general government expenditure. .