Global Defense Spending Reaches Historic Record

In 2023, global military expenditures rose to $2.44 trillion. This increase of 6.8% marks the highest figure since 2009, according to the Trends In World Military Expenditure report published by the Stockholm International Peace Research Institute (SIPRI), as reported by RTVI.

Experts explain that the rise in defense spending is primarily driven by ongoing combat in Ukraine and heightened geopolitical tensions in Asia, Oceania, and the Middle East. “Military spending has increased in all five geographical regions...,” the report states.

According to SIPRI, total expenditures accounted for 2.3% of global GDP. The top five countries in defense spending include: the USA at $916 billion (3.4% of GDP); China at $296 billion (1.7% of GDP); Russia at $109 billion (5.9% of GDP); India at $83.6 billion (2.4% of GDP); and Saudi Arabia at $75.8 billion (7.1% of GDP). Together, these countries represent 61% of global military expenditures.

Data from the institute indicates that in 2023, Russia's defense spending increased by 24% compared to 2022. The report notes that since 2014, Moscow's military expenditures have risen by 57%.