Global Military Spending Hits Record High in 2023

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Adi Ahdiat 23/04/2024 16:32 WIB

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According to SIPRI data, global military expenditure in 2023 grew by 6.8% year-on-year, reaching a new historical high.

Global Military Expenditure by Year (2010-2023)*

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Global Military Spending Hits Record High in 2023

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Global Military Expenditure by Year (2010-2023)*

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According to data from the Stockholm International Peace Research Institute (SIPRI), total global military expenditure at current prices reached US$2.44 trillion in 2023.

Calculated using constant 2022 prices, this figure is equivalent to US$2.39 trillion, a year-on-year increase of 6.8%.

Global military expenditure in 2023 also set a new record high, at least since SIPRI began recording data in 1988.

In 2023, the United States had the highest military spending, at approximately US$916 billion, or 37.5% of total global military expenditure (current prices).

Other countries with significant military spending include China, Russia, India, Saudi Arabia, the United Kingdom, Germany, Ukraine, France, and Japan.

Combined, the military budgets of these ten countries account for almost 74% of total global military expenditure in 2023 (current prices).

SIPRI compiles this data from official government reports and other publicly accessible sources.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."