STOCKHOLM: Amidst the backdrop of ongoing conflicts such as the Russia-Ukraine war and Israel’s actions in Gaza, global military spending surged by 7% in 2023, reaching a staggering $2.43 trillion, marking the highest level since 2009.
The Stockholm International Peace Research Institute (SIPRI), a renowned think-tank based in Sweden, revealed that the United States (US) and China emerged as the top two countries in terms of military expenditure.
Senior researcher Nan Tian from SIPRI’s Military Expenditure and Arms Production Programme warned of the potential consequences of prioritizing military strength, highlighting the risk of escalating an action-reaction cycle in an increasingly volatile geopolitical landscape.
SIPRI’s analysis showed that Russia significantly increased its military spending by 24% to an estimated $109 billion. Meanwhile, Ukraine, amidst the ongoing conflict, saw a substantial 51% surge in military expenditure, reaching $65 billion, aided by approximately $35 billion in military aid from other nations.
This aid, coupled with Ukraine’s military spending, amounted to nearly 91% of Russian military expenditure, according to SIPRI’s findings.
The institute also emphasized the significant contribution of NATO member countries to global military spending, accounting for 55% of the total expenditure.
Lorenzo Scarazzato, a researcher at SIPRI, noted a notable shift in threat perceptions among European NATO states due to the conflict in Ukraine. This shift has led to increased military spending, with NATO’s 2% GDP target now viewed as a baseline rather than a threshold to meet.
SIPRI reported substantial increases in military spending among most European NATO members. Additionally, the US, as the leading contributor to NATO’s budget, raised its military spending by 2% to $916 billion, representing around two-thirds of total NATO military expenditure.
It is noteworthy that NATO member states are expected to allocate at least 2% of their GDP for defense spending, a target that many nations are now surpassing.
SIPRI’s analysis provides valuable insights into the evolving dynamics of global military expenditures, expressed in real terms using constant 2022 prices.
I am an accomplished graduate of Strategic Studies, driven by a fervent dedication to comprehending global affairs and devising impactful strategies. Equipped with a comprehensive skill set encompassing research, critical thinking, and persuasive communication, I possess a distinctive viewpoint and an unwavering commitment to fostering inclusive decision-making processes. As a versatile individual, I excel in collaborating with diverse groups in various settings, leveraging my strong interpersonal abilities to adapt seamlessly to new environments and surmount any challenges that arise. With a passion for contributing to strategic initiatives, I am eager to leverage my expertise and drive to effect positive change within the field.
