Record military spending infographic
Graphic shows increase in military spending in 2023.
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MILITARY

Global defence budget jumps to record high

By Jordi Bou

April 22, 2024 - Military expenditure has jumped to a record high of $2,443 billion after the largest annual rise in government spending on arms in over 10 years.

The 6.8% increase between 2022 and 2023 was the steepest since 2009, pushing spending to the highest recorded by the Stockholm International Peace Research Institute (Sipri) in its 60-year history.

SIPRI said Russia raised spending by 24% to an estimated $109 billion. Ukraine increased spending by 51% to $65 billion and received at least $35 billion in military aid from other countries.

For the first time, analysts at the thinktank recorded a rise in military outlay in all five geographical regions: Africa, Europe, the Middle East, Asia and Oceania and the Americas.

Sources
PUBLISHED: 22/04/2024; STORY: Graphic News; PICTURES: Getty Images
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