Global military spending hit all-time high in 2023 after 7% jump, report finds
- Global military spending hit a record $2.4 trillion in 2023 due to increased concerns over peace and security, as stated by the Stockholm International Peace Research Institute.
- This figure rose by 6.8% from 2022, showing the most significant annual increase since 2009, according to the institute's report on military spending trends.
- Ukraine and Russia had the highest spikes in military spending in 2023, by 51% and 24% respectively, with Russia's expenditure hitting $109 billion, making it the third-largest globally.
114 Articles
114 Articles
World Spending in Military Reaches Record $2.4 Trillion in 2023
Greece maintains a defense budget of 3.7 percent of its GDP because of the threat from neighbouring Turkey. Credit: Hellenic Navy The world spent $2.4 trillion on military forces in 2023, the highest amount ever recorded by the Stockholm International Peace Research Institute (SIPRI). SIPRI has been monitoring military expenditures since 1949 and found in its annual report released on Monday that in 2023 they rose to 2.3 percent of the global gr…
Conflicts push global military spending to all-time high – report
STOCKHOLM: Global military expenditure saw its steepest increase in over a decade in 2023, reaching an all-time high of $2.4 trillion as wars and rising tensions fueled spending across the world, researchers said Monday.Military spending rose across the globe, with particularly large increases in Europe, the Middle East and Asia, according to a new report by the Stockholm International Peace Research Institute (Sipri)."Total military spending is…
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