Russia among military big spenderspublished at 02:25 British Summer Time 26 April 2022
Theo Leggett
BBC International Business Correspondent
Global military spending exceeded $2tn (£1.6tn) for the first time in 2021, with Russia's increased significantly, a new report says.
It was the seventh year in which the total had risen, the report by the Stockholm International Peace Research Institute said.
The rise in military spending is set to continue, as European countries build up their armed forces in response to Russia’s invasion of Ukraine.
The US spent more than $800bn on its military last year, more than double that of any other country.
Russia increased its military spending by nearly 3%, helped by higher oil and gas revenues, as it built up its forces on the Ukrainian border.