Daily Management Review

SIPRI reports record global military spending in 2023


According to a survey by SIPRI, global defense spending hit another high in 2023.

The Stockholm International Peace Research Institute (SIPRI) reports that total military spending worldwide grew to $2.443 trillion in 2023, an increase of 6.8% in real terms from 2022.  According to SIPRI's Trends In World Military Expenditure report, this is the biggest annual increase since 2009. Worldwide military spending has increased for the ninth year in a row and has now reached a record high.

All five of the geographic regions that SIPRI surveys saw rises in military spending for the first time since 2009, with the Middle East, Asia, Europe, and Oceania seeing especially significant increases.

The United States and China jointly spend almost half of all military spending worldwide—37 percent and 12 percent, respectively.  

The researchers at the institute estimate that Russia's military spending increased by 24% in 2023, making up 16% of all government spending and 5.9% of the country's GDP. 

Although the US continues to be NATO's biggest sponsor, the SIPRI assessment pointed out that European allies are contributing more money to the alliance. 31 NATO nations paid $1.341 trillion (about 55% of all military spending worldwide) in 2023.

source: sipri.org