Global defense spending hit a record $ 1.83 trillion in 2020 - despite the COVID-19 pandemic and the subsequent 3.5 percent contraction in the global economy, British International Institute for Strategic Studies (IISS) said in a report. 

Compared to 2019, the increase was 3.9 percent, DW reported.

The United States, with $ 738 billion in armaments spending, is # 1 on the IISS, accounting for nearly 40 percent of global spending on these purposes. China's indicator is significantly lower - $ 193.3 billion. The increase in total military spending in the Asian region is primarily due to the increase in the defense budget of China the report further says. The most significant expenditures are associated with equipping the Chinese Navy, experts say.

As for the average defense spending of European NATO members, it has grown steadily as a percentage of gross domestic product over the past six years - from 1.25 percent of GDP in 2014 to 1.52 percent in 2019 - and jumped to 1.64 percent last year. However, this is still well below NATO's recommendation that its members should spend 2 percent of their GDP on defense by 2024. Only nine countries of the North Atlantic Alliance managed to reach this target last year.