homephotos Newseconomy News10 countries that spend the most on military power: US' defence budget is $778 billion, India ranks 3rd

10 countries that spend the most on military power: US' defence budget is $778 billion, India ranks 3rd

SUMMARY

Countries spend an impressive quantum of money on their defense militaries. From tanks, aircraft carriers, personnel costs and other pieces of equipment, running an organised armed force is expensive. While the United States of America still outspends every other country in the world by a large margin, other countries have started to spend more money on their military expenditure as well. Here are the 10 countries that spend the most on their militaries in 2020.

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By CNBCTV18.com Aug 4, 2021 1:50:10 PM IST (Updated)

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Rank 10 | Country: South Korea | Amount spent: $45.7 billion. (Image: AP Photo)

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Rank 9 | Country: Japan | Amount spent: $49.1 billion (Image: Reuters)

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Rank 7 | Country: Germany | Amount spent: $52.8 billion (Image: Reuters)

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Rank 6 | Country: Saudi Arabia | Amount spent: $57.5 billion. (Image: AP Photo)

No 8 | UK | Global Firepower PowerIndex: 0.180 (Image: Reuters)
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Rank 5 | Country: United Kingdom | Amount spent: $59.2 billion. (Image: Reuters)

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Rank 4 | Country: Russia | Amount spent: $61.7 billion. (Image: Reuters)

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Rank 3 | Country: India | Amount spent: $72.9 billion. (Image: AP Photo)

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Rank 2 | Country: China | Amount spent: $252 billion. (Image: Reuters)

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Rank 1 | Country: US | Amount spent: $778 billion. (Image: Reuters)

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