STOCKHOLM (CHATNEWSTV) — World military expenditure rose to $2.72 trillion in 2024, a 9.4% jump from the previous year and the sharpest annual increase since the end of the Cold War, according to a press statement released Monday by the Stockholm International Peace Research Institute (SIPRI).
Spending increased across all regions, driven largely by surges in Europe and the Middle East. The United States, China, Russia, Germany, and India accounted for 60% of the global total, with a combined expenditure of $1.64 trillion, SIPRI said.
“Over 100 countries around the world raised their military spending in 2024,” said Xiao Liang, a researcher with SIPRI’s Military Expenditure and Arms Production Programme. “As governments increasingly prioritize military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come.”
Europe, Middle East Fuel Surge
Military spending in Europe, including Russia, rose 17% to $693 billion — the main driver of the global rise — with all European nations except Malta increasing their defense budgets. Russia’s military spending alone grew 38% to an estimated $149 billion, reaching 7.1% of its GDP, while Ukraine spent $64.7 billion, equivalent to 34% of its GDP, the highest military burden globally.
“Russia once again significantly increased its military spending, widening the spending gap with Ukraine,” said Diego Lopes da Silva, senior researcher at SIPRI. “Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending.”
Germany’s defense budget soared by 28% to $88.5 billion, making it the largest military spender in Western Europe for the first time since its reunification.
“The latest policies adopted in Germany and many other European countries suggest that Europe has entered a period of high and increasing military spending that is likely to continue for the foreseeable future,” said SIPRI researcher Lorenzo Scarazzato.
In the Middle East, regional military spending rose 15% to $243 billion, led by Israel, which increased its military expenditure by 65% to $46.5 billion amid conflicts in Gaza and southern Lebanon. Israel’s military burden rose to 8.8% of GDP, the second highest in the world.
“Despite widespread expectations that many Middle Eastern countries would increase their military spending in 2024, major rises were limited to Israel and Lebanon,” said Zubaida Karim, a SIPRI researcher.
NATO and Asia-Pacific Trends
All NATO members boosted their military budgets in 2024, with total NATO spending reaching $1.51 trillion, or 55% of global expenditure. Eighteen NATO members spent at least 2% of their GDP on defense, the highest number since the alliance adopted the spending target in 2014.
U.S. military spending rose 5.7% to $997 billion, representing 37% of global defense expenditures. European NATO members together spent $454 billion.
“The rapid spending increases among European NATO members were driven mainly by the ongoing Russian threat and concerns about possible U.S. disengagement within the alliance,” said Jade Guiberteau Ricard, a SIPRI researcher.
In Asia, China’s military expenditure rose by 7% to $314 billion, continuing three decades of consecutive growth. Japan’s spending jumped 21% to $55.3 billion, the highest rise since 1952. India’s defense budget grew 1.6% to $86.1 billion.
“Major military spenders in the Asia–Pacific region are investing increasing resources into advanced military capabilities,” said Nan Tian, SIPRI program director. “With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral.”
Other Notable Developments
The United Kingdom increased spending by 2.8% to $81.8 billion, becoming the world’s sixth-largest military spender.
Sweden, newly admitted to NATO, raised its defense budget by 34% to meet the alliance’s 2% GDP target.
Saudi Arabia’s spending edged up 1.5% to $80.3 billion, making it the largest spender in the Middle East.
Mexico’s military budget rose sharply by 39% to $16.7 billion, mainly funding the National Guard and navy operations.
Africa’s overall military spending grew by 3% to $52.1 billion.
SIPRI said its methodology may differ from that of NATO and other organizations and that its figures are expressed in real terms using constant 2023 prices.
