Also in terms of total military spending, India ranked third, behind only the United States and China. However, none of the top three spenders was on the list of the top 10 military expenditures taken as a percentage of GDP.
Here’s a look at the world’s biggest military spenders, sellers, and gun buyers, explained in charts.
The United States was the most dominant player in arms exports, accounting for 36% of world trade, while the Middle East made its first appearance among the 25 largest arms manufacturers during the year.
The total sales by the “top 25” companies, in 2019, it increased by 8.5 percent to $ 361 billion, equivalent to 50 times the annual budget of UN peacekeeping operations.