Global military spending will reach $2.443 trillion in 2023, up 6.8% from 2022. It was the biggest increase since 2009. Countries in the top ten, including the US, China and Russia, have increased their military spending.
This is stated in a new report of the Stockholm International Peace Research Institute (SIPRI).
“Global military spending is increasing against the background of war, growing tension and uncertainty,” the authors of the report emphasize.
Growth continued for the ninth year in a row and was observed in all regions. The largest increases in military spending were recorded in Europe, Asia and Oceania, as well as in the Middle East.
The top five military spending countries were the USA, China, Russia, India and Saudi Arabia.
Both the United States and China, which occupy the top positions in the global ranking, have increased their military spending in 2023, amounting to $916 billion and $296 billion, respectively.
In 2023, the total military expenditures of the 31 NATO countries amounted to 1.341 trillion dollars, which is equal to 55% of the global total. US allocations for military purposes increased by 2.3% and reached 916 billion dollars or 68% of NATO’s total costs. In 2023, most of the European members of the North Atlantic Treaty Organization increased their military budgets, their share of total spending was 28%, the highest figure in the last decade. The remaining 4% goes to Canada and Turkey.
The second largest military expenditure is China, which spent 296 billion dollars in 2023, which is 6% more than in 2022. The country increased its military budget for the 29th year in a row. Now it is equal to half of the total military spending of Asia and Oceania. Against this background, several countries neighboring China have also increased their military budgets.
Military expenditures of the Russian Federation increased by 24% and, according to estimates, in 2023 amounted to 109 billion dollars. Last year, allocations for military needs made up 16% of all budget expenditures, and the military burden made up 5.9% of GDP, which is a record figure since the breakup of the Soviet Union.
Ukraine ranked eighth among countries with the largest military expenditures, increasing them by 51% to $64.8 billion. The military burden reached 37% of GDP, which corresponded to 58% of all public expenditure.
Ukraine’s expenses made up 59% of Russia’s military expenses. However, according to the report, during the year, Ukraine received at least 35 billion dollars in military aid, of which 25.4 billion dollars went to the United States. Taking into account this volume, Ukraine’s total military expenditures made up 91% of Russia’s expenditures.
Last year, India ranked fourth among countries with the largest military budget. it spent 83.6 billion dollars for military purposes, which is 4.2% more than in 2022.
Japan’s spending in 2023 was $50.2 billion, up 11% from last year.
Military spending growth in the Middle East is estimated at 9%. In 2023, their total volume was 200 billion dollars, which is the highest indicator in the region during the last decade. The first place in terms of military budget belongs to Saudi Arabia. The second position belongs to Israel, which increased its expenses by 24%, bringing them to 27.5 billion dollars.
In the Middle East, Iran ranked fourth in terms of military spending. Last year, the country’s military budget was 10.3 billion dollars.
Military spending in the countries of Central America and the Caribbean increased by 54% in 2023 compared to 2014. The rise of organized crime has forced several countries in the region to strengthen their armed forces to combat criminal gangs.
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