homephotos Newseconomy NewsGlobal military spending reaches $2.24 trillion in 2022, the highest level ever recorded

Global military spending reaches $2.24 trillion in 2022, the highest level ever recorded

Global military spending reaches $2.24 trillion in 2022, the highest level ever recorded
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By CNBCTV18.com Apr 25, 2023 6:16:47 PM IST (Published)

SUMMARY

The five biggest spenders in 2022 were the United States, China, Russia, India and Saudi Arabia, which together accounted for 63% of world military spending.

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World military expenditure rose 3.7%, when adjusted for inflation, to $2.24 trillion in 2022—the highest level ever recorded in SIPRI data. (Image: Shutterstock)

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Total world military spending accounted for 2.2% of global gross domestic product (GDP) in 2022. (Image: Shutterstock)

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The five biggest spenders in 2022 were the United States, China, Russia, India and Saudi Arabia, which together accounted for 63% of world military spending. (Image: Shutterstock)

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The USA’s military spending increased by 0.7% to $877 billion in 2022. The total includes military aid to Ukraine, estimated at $19.9 billion. (Image: Reuters)

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In 2022 China’s military spending rose for the 28th consecutive year, to reach $292 billion. (Image: Reuters)

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Russia’s military spending is estimated to have grown by 9.2% in 2022, to $86.4 billion. This was equivalent to 4.1% of Russia’s GDP. (Image: Shutterstock)

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India’s military spending of $81.4 billion in 2022 saw a rise compared to 2021, amid the Russia-Ukraine conflict. (Image: Reuters)

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India was also named among the world's largest arms importers. (Image: Reuters)

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Ukraine’s military spending rose by 640% to $44.0 billion or 34% of GDP in 2022. The total does not include military aid supplied to Ukraine. (Image: Shutterstock)

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The largest increase was in Europe (+13%), followed by the Middle East (+3.2%), Asia and Oceania (+2.7%) and the Americas (+0.3%). Spending decreased in Africa (–5.3%). (Image: Shutterstock)

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France was the second-largest supplier of arms with a 29% share, surpassing the US, which stood at an 11% share. (Image: Reuters)

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Ukraine’s military spending went up to $44 billion in 2022, marking a 640% jump, which was the highest single-year increase in a country’s military expenditure. (Image: Reuters)

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Saudi Arabia’s military spending rose 16% to reach an estimated $75 billion, marking its first increase since 2018. (Image: Reuters)

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Japan’s military spending increased by 5.9% and stood at $46.0 billion, or 1.1% of its GDP. (Image: Shutterstock)

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Ethiopia’s military spending rose sharply by 88% to reach $1 billion due to a renewed government offensive against the Tigray People’s Liberation Front. (Image: Reuters)

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Turkey’s military spending fell for the third year in a row, reaching $10.6 billion, marking a decline of 26% compared to 2021. (Image: Shutterstock)

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