World military spending was $1.69 trillion in 2016, according to Swedish think-tank Stockholm International Peace Research Institute’s (SIPRI) report ranking countries based on military spending in the last year.
Spending increased for a second consecutive year. Spending grew in Asia, Central and Eastern Europe and North Africa. By contrast, military spending fell in Central America and the Caribbean, the Middle East, South America and sub-Saharan Africa.
Saudi Arabia was the third largest spender in 2015 but dropped to fourth place in 2016 as its expenditure fell by 30 per cent to $63.7 billion, “despite its continued involvement in regional wars”, it added.
India was the fifth-largest military spender in the world as its expenditure grew by 8.5 per cent, spending $55.9 billion in 2016 on defence.