Global defense expenditure rises to $1.78 trillion, Ghana spending $218 M

By Maxwell Awumah, GNA

Ho, Aug 14, GNA
– Global spending on defense hit $1.78 trillion in 2018, up 2.6% on the
previous year, according to data from the World Bank and data visualisation
wizards at HowMuch, who mapped out a fascinating infographic, showing all the
countries with sizeable military budget.

Ghana however
spent about $218 Million on military expenditure in 2018 with the big spenders
on the continent being Algeria- $9.5 Billion; Morocco- $3.7 Billion; South
Africa- $3.64 Billion; Egypt- $3.1 Billion and Nigeria- $2.04 Billion.

The lowest
expenditures came from Liberia, The Gambia and Cape Verde, spending $15.8 M,
$11.5 M and $10.8 M, respectively, according to the visuals in the release
copied to the Ghana News Agency.

The United
States tops the countries with most expenditure on military hardware, spending
some $ 649 Billion in 2018.

Four others,
China ($250 Billion), Saudi Arabia ($67.6 Billion), India ($66.5 Billion) and
France ($63.8 Billion) together contribute more than half of all global
military spending.

It said the
United States is projected to spend even more for defense in
2020 “than at any point since World War II, except for a handful of years
at the height of the Iraq War.” 

It said Haiti
remained the lowest global country with military spending of only $79,700, in
2018.

The infographic
shows that 71 of the 146 countries in the dataset spent more than $1 Billion on
their military budgets. Norway’s armed personnel, for example, totals 23,000.
Yet, Norway spent over $7 billion on its military last year.

India becomes
the country with the largest standing armed forces personnel of 3,031,000
troops, followed by China- 2,695,000 troops and Russia boasts of 1,454,000
troops, compared to 1,359,000 for the US.

The graph
scores zero for Haiti and Seychelles with no armed forces but 1,000 for The
Gambia and Cape Verde and Luxemburg recording 2,000 troops for being countries
with smallest armed forces personnel globally.

Ghana is pegged
between 25,000-49,000 standing armed forces, with Egypt topping the African
armed forces personnel in the one million class, followed by Algeria, Morocco,
Sudan, Nigeria and Angola categorised in the 500,000-1,000,000 range.

The defense
industry is one of the largest in the world. Nearly every country sets aside a
large portion of their federal budget for military expenditures, which can have
a major impact on their economies. 

Using data from
the World Bank, which provides data and analysis on a variety of topics for
countries around the world, it compiled the numbers for armed forces
personnel and military expenditures for countries across the globe.
The graphic doesn’t include countries that haven’t made these available to The
World Bank.  It’s clear that defense is a
top priority for many countries around the world.

GNA

Credit: Source link

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