Connect with us

United States

Mapped: The World’s Top Countries for Military Spending

Published

on

Mapped The World's Top Military Spenders in 2020

Mapped: The World’s Top Countries for Military Spending

By practically any measure, the world today is more peaceful and less war-torn on a global scale, relative to the past.

For instance, declarations of war between nations and soldier casualties have both dropped drastically since the 20th century. Yet, military spending has not followed this trend.

The Top 10 Military Spenders

According to SIPRI, global military spend reached almost $2 trillion in 2020. The top 10 countries represent roughly 75% of this figure, and have increased their spending by $51 billion since the year prior.

Here’s how the worlds top 10 military spenders compare to each other:

RankCountryMilitary Spend 2020 ($B)% ChangeMilitary Spend 2019 ($B)
#1🇺🇸 United States $778.0+6.2%$732.0
#2🇨🇳 China$252.0-3.4%$261.0
#3🇮🇳 India$72.9+2.5%$71.1
#4🇷🇺 Russia$61.7-5.2%$65.1
#5🇬🇧 United Kingdom$59.2+21.5%$48.7
#6🇸🇦 Saudi Arabia$57.5-7.1%$61.9
#7🇩🇪 Germany$52.8+7.1%$61.9
#8🇫🇷 France$52.7+5.1%$50.1
#9🇯🇵 Japan$49.1+3.1%$47.6
#10🇰🇷 South Korea$45.7+4.1%$43.9
Total$1,481.6+3.5%$1,430.7

The U.S. isn’t labeled as a global superpower for nothing. The country is by far the largest military spender, and its $778 billion budget trumps the remainder of the list’s collective $703.6 billion. On its own, the U.S. represents just under 40% of global military spending.

This year, Saudi Arabia has lost out on a top five seat to the UK, after a 7.1% decline in spending compared to a 21.5% increase for the UK.

Military Spend as a Percentage of GDP

Military expenditures as a percentage of GDP can be used to compare military spending relative to the size of a country’s economy.

Military Spend as a Share of GDP

Click here to view a high-resolution version of this image.

When looking at things this way, many of the top spenders above do not appear. This may be an indication of their economic prowess or a demonstration that the money might be used for other vital areas such as education, healthcare, or infrastructure.

RankCountryRegionSpend as a % of GDP (2020)
#1🇴🇲 OmanMiddle East11.0%
#2🇸🇦 Saudi ArabiaMiddle East8.4%
#3🇩🇿 AlgeriaNorth Africa6.7%
#4🇰🇼 KuwaitMiddle East6.5%
#5🇮🇱 IsraelMiddle East5.6%
#6🇷🇺 RussiaEurope/Asia4.3%
#7🇲🇦 MoroccoNorth Africa4.3%
#8🇮🇶 IraqMiddle East4.1%
#9🇺🇦 UkraineEurope4.1%
#10🇵🇰 PakistanSouth Asia4.0%

It’s pretty rare for countries to reach double digits for military spending as a percentage of GDP. In this case, Oman is an outlier, as the Middle Eastern country’s spending relative to GDP grew from 8.8% last year, to 11% in 2020.

Many of the countries with the highest military spending to GDP are located in the Middle East—a reflection of the escalating conflicts that have persisted in the region for well over two decades.

It’s worth noting that some data for the Middle Eastern region are estimates, due to the aforementioned regional instability.

More Spending to Come?

Global military spending figures are at a 32-year high, despite the pandemic’s effect on shrinking economic output.

World Military Spend 1988-2020

Although a major war hasn’t occurred in some time, it’s not to say the geopolitical mood hasn’t been tense.

The last 12 months or so have witnessed some nail-biting moments including:

  • Border disputes between China and India
  • Heightening tensions between China and Taiwan
  • Russia’s military presence in eastern Ukraine
  • The hacking of SolarWinds, a Texas-based company, by Russia
  • The ongoing Yemen crisis
  • An Israel-Iran feud

Will 2021 extend the trend of peace, or will rising military spending mean even higher tensions?

Click for Comments

Money

Mapping Credit Card Delinquency Rates in the U.S. by State

Which states have the lowest credit card delinquency rates in America, and which have the highest?

Published

on

mapping credit card delinquency rates in the U.S.

Credit Card Delinquency Rates in the U.S. by State

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Credit card debt carries a hefty bill in America, and falling behind on payments can be extremely costly for cardholders.

This graphic shows credit card delinquency rates across 50 U.S. states, as of Q3 2023. This data comes from a WalletHub study published in January 2024.

Which States Have the Lowest and Highest Delinquency Rates?

Credit card delinquency is when a cardholder falls behind on required monthly payments. Credit agencies are often notified after two months of delinquent payments.

WalletHub examined proprietary user data on the average number of delinquent credit card tradelines—also known as credit accounts—across states. Here they are from lowest to highest:

RankStateShare of Credit Card
Tradelines Delinquent (%)
1Iowa12.9
2Massachusetts13.9
3Hawaii13.9
4Rhode Island14.7
5Washington14.7
6Florida14.8
7New York14.9
8California15.1
9New Hampshire15.5
10Alaska15.6
11New Jersey15.6
12Colorado15.7
13Utah15.8
14Vermont16.1
15Montana16.1
16Illinois16.5
17Oregon16.6
18Idaho17.0
19Ohio17.5
20Connecticut17.8
21Maine18.0
22Nebraska18.1
23Wyoming18.1
24Maryland18.4
25Kansas18.4
26Wisconsin18.5
27Virginia18.7
28Nevada19.1
29South Dakota19.3
30Arizona19.8
31Minnesota19.8
32Pennsylvania20.2
33Michigan20.9
34North Dakota21.3
35Delaware21.4
36Missouri22.4
37New Mexico22.6
38Georgia23.1
39North Carolina24.0
40Indiana24.3
41Texas24.7
42West Virginia25.2
43Tennessee26.2
44South Carolina26.9
45Kentucky27.6
46Oklahoma28.2
47Arkansas30.1
48Alabama30.5
49Louisiana31.7
50Mississippi39.1

No state had credit delinquency rates of less than 10%, with Iowa coming the closest at 12.9%.

That puts Iowa ahead of wealthier states like Massachusetts (13.9%), Washington (14.7%), and New Hampshire (15.5%).

At the bottom end was Mississippi, which had 39% credit delinquency rates to end 2023. That’s well ahead of the next-lowest states Louisiana (31.7%) and Alabama (30.5%).

It’s notable that the American South had higher rates of delinquency almost across the board. The five states with the highest rates of credit card delinquency are all located in the southeastern region of the country, and Texas had a higher delinquency rate (25%) than other majorly populated states like Florida (14.8%) and New York (14.9%).

Continue Reading
NOVAGOLD. Pure gold. Precious opportunity.

Subscribe

Popular