At $2.4 trillion, global military spending in 2023 is set to increase by 6.8% - the highest annual increase since 2009; the US, China, Russia, India and Saudi Arabia are the top five military spenders.
Global military spending in 2023 recorded its strongest increase in more than a decade, reaching $2.4 trillion - the highest ever, amid conflicts occurring in several parts of the world.
This is the data in a report released by the Stockholm International Peace Research Institute (SIPRI) on April 22.
Military spending has increased globally, particularly in Europe, the Middle East and Asia, the report said.
Nan Tian, a senior researcher at SIPRI, said total military spending is at an all-time high, and for the first time since 2009, it has increased across all five continents, posing a threat to global peace and security.
Military spending in 2023 is expected to increase by 6.8% - the highest annual increase since 2009, according to the report. The US, China, Russia, India and Saudi Arabia are the top five military spenders, respectively.
Specifically, US military spending in 2023 will increase by 2.3% compared to 2022, to 916 billion USD. China's spending is about 296 billion USD, up 6% compared to 2022 and is the 29th consecutive year that this Northeast Asian country has increased its military spending.
Russia and India's spending is $109 billion and $83.69 billion, respectively. Meanwhile, Saudi Arabia's military spending in 2023 will increase by 4.3% compared to 2022, to about $75.8 billion, the highest military spending in the region.
In Europe, Poland will see its largest increase in military spending ever, with $31.6 billion in 2023, up 75% from 2022.
Meanwhile, countries in Central America and the Caribbean also saw a sharp increase in military spending, largely due to the need to deal with instability caused by armed criminal groups. In Africa, tensions, conflicts and violence also led countries to increase military spending.
TN (according to Vietnam+)