World Military Expenditure Reaches All-Time High of $2,443Bln in 2023, Stockholm Institute Says

MOSCOW (Sputnik) - Global military expenditure increased by 6.8% in 2023 year-over-year and reached a new record high of $2,443 billion, with the three largest spenders being the United States, China and Russia, according to new data published on Monday by the Stockholm International Peace Research Institute (SIPRI).
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"World military expenditure rose for the ninth consecutive year to an all-time high of $2,443 billion," SIPRI said.
Moreover, military expenditure increased in all five of the geographical regions defined by SIPRI, the institute added.
The US remained the world's biggest military spender with a 37% share of the world total and $916 billion spent in 2023. It is followed by China with a 12% share and an estimated $296 billion spent on the military and Russia with a 4.5% share and an estimated $109 billion spent on defense last year, which represents a 24% increase compared to 2022.
Ukraine, the eighth largest spender in 2023, increased its military spending by 51% year-over-year to $64.8 billion, which is 58% of the country's total government spending.
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The Middle East has seen a 9% surge in military spending, with Israel's spending growing by 24% to $27.5 billion amid its operation in the Gaza Strip, the institute added.