Growth in global military spending accelerated in 2023, think-tank SIPRI says

By Thomson Reuters Apr 22, 2024 | 1:46 AM

STOCKHOLM (Reuters) – Global military expenditure rose by 7% to $2,443 billion in 2023, the steepest annual rise since 2009, a leading conflict think-tank said on Monday.

The Stockholm International Peace Research Institute (SIPRI) said in a statement the 10 largest spenders in 2023, led by the United States, China and Russia, all increased their military spending.

Nan Tian, Senior Researcher at SIPRI’s Military Expenditure and Arms Production Programme, said the increase was a direct response to a global deterioration in peace and security.

“States are prioritising military strength but they risk an action–reaction spiral in the increasingly volatile geopolitical and security landscape,” Tian said.

The percentage change was expressed in real terms, in constant 2022 prices, SIPRI added.

(Reporting by Anna Ringstrom, editing by Terje Solsvik)