Global military expenditures reached an unprecedented $2.4 trillion in 2023, the highest amount ever recorded. The United States remained the top spender, with China following in second place. The war in Ukraine and heightened tensions with Russia led to significant increases in military spending worldwide. Notably, European NATO members boosted their budgets by 16%, while Ukraine increased its defense spending by 51% despite substantial losses in GDP.
According to data released by the Stockholm International Peace Research Institute (SIPRI), global military spending surged by 6.8% in 2023, the largest year-on-year increase since 2009. This rise was primarily attributed to the ongoing conflict in Ukraine and heightened tensions in various regions worldwide. The United States, China, Russia, India, and Saudi Arabia emerged as the top five military spenders, accounting for over 60% of global expenditure.
