World military expenditure reaches new record high as European spending surges
Syndicated By: GEO´ PRWire Team – Gibraltar
25th April 2023
Total global military expenditure increased by 3.7 per cent in real terms in 2022, to reach a new high of $2240 billion according to new data on global military spending published by the Stockholm International Peace Research Institute
Military expenditure in Europe saw its steepest year-on-year increase in at least 30 years. The three largest spenders in 2022—the United States, China and Russia—accounted for 56 per cent of the world total, published today by the Stockholm International Peace Research Institute (SIPRI).
Invasion of Ukraine and tensions in East Asia drive increased spending
World military spending grew for the eighth consecutive year in 2022 to an all-time high of $2240 billion. By far the sharpest rise in spending (+13 per cent) was seen in Europe and was largely accounted for by Russian and Ukrainian spending. However, military aid to Ukraine and concerns about a heightened threat from Russia strongly influenced many other states’ spending decisions, as did tensions in East Asia.
‘The continuous rise in global military expenditure in recent years is a sign that we are living in an increasingly insecure world,’
said Dr Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme. ‘States are bolstering military strength in response to a deteriorating security environment, which they do not foresee improving in the near future.’ Learn More /…
SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public. Based in Stockholm, SIPRI is regularly ranked among the most respected think tanks worldwide.
Vision and mission
SIPRI‘s vision is a world in which sources of insecurity are identified and understood, conflicts are prevented or resolved, and peace is sustained. SIPRI’s mission is to:
- undertake research and activities on security, conflict and peace;
- provide policy analysis and recommendations;
- facilitate dialogue and build capacities;
- promote transparency and accountability; and
- deliver authoritative information to global audiences. Learn More /…
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