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Global Military Expenditure Reaches New Record High of $2.24 Trillion in 2022
Global Military Expenditure Reaches New Record High of $2.24 Trillion in 2022
Sputnik Africa
Global military expenditure increased reached a new record high of $2,240 billion, with the three largest spenders being the US, China and Russia, according to the Stockholm International Peace Research Institute.
2023-04-24T08:18+0200
2023-04-24T08:18+0200
2023-08-03T10:48+0200
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"World military spending grew for the eighth consecutive year in 2022 to an all-time high of $2.24 trillion. By far the sharpest rise in spending (+13% ) was seen in Europe," SIPRI said in its report. The United States remains the world’s biggest military spender with its military expenditure having reached $877 billion last year, which is 39% of total global military spending. China was the world’s second largest military spender in 2022, having spent $292 billion, or 4.2% more than in 2021, according to SIPRI. Meanwhile, Ukraine’s military spending saw the highest single-year increase in a country’s military expenditure ever recorded in SIPRI data, reaching $44.0 billion in 2022, which was a 640% increase. The aid that Washington allocated to Kiev last year was 2.3% of total US military spending.
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global military expenditure, global military expenditures new record high, what is the highest global military expenditure?
global military expenditure, global military expenditures new record high, what is the highest global military expenditure?
Global Military Expenditure Reaches New Record High of $2.24 Trillion in 2022
08:18 24.04.2023 (Updated: 10:48 03.08.2023) MOSCOW (Sputnik) - Global military expenditure increased by 3.7 % last year and reached a new record high of $2.24 trillion, with the three largest spenders being the United States, China and Russia, according to new data published by the Stockholm International Peace Research Institute (SIPRI).
"World military spending grew for the eighth consecutive year in 2022 to an all-time high of $2.24 trillion. By far the sharpest rise in spending (+13% ) was seen in Europe," SIPRI said in its report.
The United States remains the world’s biggest military spender with its military expenditure
having reached $877 billion last year, which is 39% of total global military spending.
"The 0.7% real-terms increase in US spending in 2022 would have been even greater had it not been for the highest levels of inflation since 1981," SIPRI said.
China was the world’s second largest military spender in 2022, having spent $292 billion, or 4.2% more than in 2021, according to SIPRI.
"Russian military spending grew by an estimated 9.2% in 2022, to around $86.4 billion. This was equivalent to 4.1% of Russia’s gross domestic product (GDP) in 2022, up from 3.7% of GDP in 2021," SIPRI said.
Meanwhile, Ukraine’s military spending saw the highest single-year increase in a country’s military expenditure ever recorded in SIPRI data, reaching $44.0 billion in 2022, which was a 640% increase.
"US financial military aid to Ukraine totalled $19.9 billion in 2022," SIPRIS said, adding that this was "the largest amount of military aid given by any country to a single beneficiary in any year since the cold war."
The aid that Washington allocated to Kiev last year was 2.3% of total US military spending.
