Total global military expenditure reached $2443 billion in 2023, an increase of 6.8 per cent in real terms from 2022. This was the steepest year-on-year increase since 2009 and occurred in the top 10 countries, according to new data on global military spending published by the Stockholm International Peace Research Institute (SIPRI), the latter informs.

"Global military spending surges amid war, rising tensions and insecurity," the authors stress. World military expenditure rose for the ninth consecutive year and was seen in all geographical regions, with particularly large increases recorded in Europe, Asia and Oceania, and the Middle East.

Total military spending in 2023 was 2.3% of global GDP. The top five spenders in this domain were the United States, China, Russia, India and Saudi Arabia, which together accounted for 61% of global military spending.

Both the United States and China, which lead the world rankings in this regard, increased their military spending in 2023 to $916 billion and $296 billion, respectively.

“The unprecedented rise in military spending is a direct response to the global deterioration in peace and security,’ said Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme. “States are prioritizing military strength but they risk an action–reaction spiral in the increasingly volatile geopolitical and security landscape.”