World military expenditure increased for the ninth consecutive year in 2023, says the report.
Military Expenditure: The Stockholm International Peace Research Institute (SIPRI), an international institute based in Stockholm that provides data, analysis, and recommendations for armed conflicts, on Monday, shared an interesting report on military spending by various countries and has sequentially ranked them.
“Total global military expenditure reached $2443 billion in 2023, an increase of 6.8 percent in real terms from 2022. This was the steepest year-on-year increase since 2009. The 10 largest spenders in 2023, led by the United States, China, and Russia, all increased their military spending, according to new data on global military spending published on April 22, 2024, by the Stockholm International Peace Research Institute (SIPRI)
The data is available at www.sipri.org.
These were the top 5 military spenders in 2023
- United States
- China
- Russia
- India
- Saudi Arabia
As you can see from the list above, the United States was the top spender followed by China, Russia, India, and Saudi Arabia.
Together, these top 5 countries accounted for 61% of world military spending.
The United Kingdom, Germany, Ukraine, France, and Japan are also among the top 10 military spenders.
“World military expenditure increased for the ninth consecutive year in 2023, reaching a total of $2443 billion. The 6.8 percent increase in 2023 was the steepest year-on-year rise since 2009 and pushed global spending to the highest level SIPRI has ever recorded. The world military burden—defined as military spending as a percentage of global gross domestic product (GDP)—increased to 2.3 percent in 2023. Average military expenditure as a share of government expenditure rose by 0.4 percentage points to 6.9 percent in 2023 and world military spending per person was the highest since 1990, at $306,” says a portion of the report from www.sipri.org.
“This SIPRI Fact Sheet highlights trends in military expenditure for 2023 and over the decade 2014–23. The data, which replaces all military spending data previously published by SIPRI, comes from the updated SIPRI Military Expenditure Database,” says the SIPRI website.