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Kyodo News
05-05-2025
- Business
- Kyodo News
Military spending in 2024 rises unprecedented 9.4% to $2.72 trillion
KYODO NEWS - Apr 28, 2025 - 12:22 | All, World Global military expenditures in 2024 rose 9.4 percent from the year before to a record $2.72 trillion, an international security think tank said Monday, logging the steepest hike since it began compiling the data in 1988. The figure climbed for the 10th consecutive year, with recent increases reflecting Russia's full-scale war on Ukraine that began in February 2022 and heightened tensions in the Middle East, the Stockholm International Peace Research Institute said. "Over 100 countries around the world raised their military spending in 2024. 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," said Xiao Liang, researcher at the institute's Military Expenditure and Arms Production Program, in a statement. By country, the United States topped the list with outlays of $997 billion, up 5.7 percent, while China raised its spending by 7.0 percent to an estimated $314 billion, with the two countries accounting for nearly half of the global total. Russia, Germany and India followed behind the two superpowers. Russia boosted spending by 38 percent to an estimated $149 billion, double the level in 2015 but the actual amount is likely to be higher as part of its expenditure was marked as classified in 2024. Outlays by Ukraine, ranking eighth, grew 2.9 percent to $64.7 billion. The figure represents 34 percent of its gross domestic product, the largest share among all countries in 2024, it said. In Asia, China's spending rose for the 30th straight year, accounting for 50 percent of all military spending in Asia and Oceania. Japan's military spending rose 21 percent to $55.3 billion, the largest annual increase since 1952, and comprised 1.4 percent of the country's GDP, the highest ratio since 1958. The country placed 10th in the world ranking, the same as the previous year. "Major military spenders in the Asia-Pacific region are investing increasing resources into advanced military capabilities," said Nan Tian, another SIPRI researcher. "With several unresolved disputes and mounting tensions, these investments risk sending the regions into a dangerous arms-race spiral." Israel's military expenditure surged by 65 percent to $46.5 billion, climbing to 12th from 14th the previous year, as it continued to attack Gaza and was engaged in conflict with the Hezbollah militant group in southern Lebanon. Related coverage: North Korea confirms troop deployment to Russia under bilateral pact Japan defense vessels stop at China-funded naval base in Cambodia Japan to spend 1.8% of GDP on defense in 2025, 2% target in sight
American Military News
30-04-2025
- Business
- American Military News
Global military spending increases at highest rate since Cold War: Report
A new report shows that global military spending increased by 9.4% from 2023 to 2024, representing the highest increase in military spending since the Cold War as the war between Russia and Ukraine and the war between Israel and Hamas continues amid rising tension across the globe. According to the Stockholm International Peace Research Institute's new study, world military spending increased by roughly 9.4% in 2024 to $2718 billion, marking the '10th year of consecutive rises' and the highest increase in spending since 1988. 'Military spending increased in all world regions, with particularly rapid growth in both Europe and the Middle East,' the Stockholm International Peace Research Institute said. 'The top five military spenders—the United States, China, Russia, Germany and India—accounted for 60 per cent of the global total, with combined spending of $1635 billion.' According to the study, each of the world's top 15 spenders in 2024 increased their military spending, while the 'global military burden' increased to 2.5% of global gross domestic product in 2024. 'Over 100 countries around the world raised their military spending in 2024,' Xiao Liang, a Stockholm International Peace Research Institute researcher, said. '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.' READ MORE: Video: Pentagon cuts $5.1 billion in 'wasteful spending' in new wave of DOGE cuts The report indicated that in addition to the increased global military spending in 2024, many nations have 'committed to raising military spending,' which is expected to 'lead to further global increases in the coming years.' According to the report, the United States was the biggest military spender in 2024, with nearly $1 trillion in military spending, while China was the second highest military spender, with roughly $314 billion in military spending. The Stockholm International Peace Research Institute noted that China increased military spending by 7% in 2024, marking the country's 30th consecutive increase in military spending and maintaining 'the largest unbroken streak recorded' in the research institute's database. The Stockholm International Peace Research Institute's study showed that Russia's military spending increased by at least 38% in 2024; however, the research institute estimated that Russia's military spending was likely higher since it supplements military spending from other sources. The study also showed that Germany's military spending increased by 28%, Romania's spending increased by 43%, the Netherlands' spending increased by 35%, Sweden's spending increased by 34%, the Czech Republic's spending increased by 32%, Poland's spending increased by 31%, and Denmark's spending increased by 20%. Additionally, Norway increased military spending by 17%, Finland increased spending by 16%, Turkey increased spending by 12%, and Greece increased spending by 11%.
Newsweek
30-04-2025
- Business
- Newsweek
Map Shows Nations Raising Military Spending As Global Tensions Escalate
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Newsweek has created a map to show how much money countries around the world spent on defense, as global military expenditure surged to an all-time high of reaching $2.718 trillion. This marks a 9.4 percent increase from 2023—the steepest annual rise since the end of the Cold War, according to new data released by the Stockholm International Peace Research Institute (SIPRI). The sharpest rises occurred in Europe, the Middle East, and Asia, driven largely by ongoing wars in Ukraine and Gaza, as well as escalating tensions in East Asia. Why It Matters SIPRI's findings illustrate how military investments are being reprioritized globally amid security crises. The increase marks the tenth consecutive year of growth and comes amid record inflation and stagnant humanitarian funding in many regions. The increases raise questions about long-term economic trade-offs and the future stability of international relations, considering that more resources are being funneled toward defense at the expense of other public spending areas. What to Know The United States remained the dominant military power with spending of $997 billion—accounting for 37 percent of the global total and 66 percent of NATO's collective $1.506 trillion expenditure. China spent $314 billion, up seven percent from the previous year, while Russia increased its defense budget by 38 percent to $149 billion. Germany became Europe's top military spender for the first time since reunification, reaching $88.5 billion—a 28 percent jump. Poland increased its budget by 31 percent to $38 billion. Ukraine's spending grew to $64.7 billion, 34 percent of its GDP, the highest burden globally. Israel posted the largest proportional increase worldwide, with its military expenditure rising 65 percent to $46.5 billion in response to war in Gaza and clashes with Hezbollah. Its defense budget amounted to 8.8 percent of GDP, second only to Ukraine. Saudi Arabia remained the top Middle Eastern spender at $80.3 billion, with modest year-on-year growth of 1.5 percent. Iran, however, saw a 10 percent decrease to $7.9 billion, constrained by international sanctions. Among Asian nations, Japan's defense budget rose 21 percent to $55.3 billion—the largest increase since 1952. India's spending reached $86.1 billion, while Taiwan increased its defense budget to $16.5 billion. What People Are Saying Xiao Liang, a researcher at SIPRI said: "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." What Happens Next With 18 of NATO's 32 members now meeting the alliance's 2 percent GDP defense target—up from 11 in 2023—the bloc is expected to continue ramping up military investment amid strategic uncertainties and political shifts. European NATO members alone spent $454 billion last year, spurred by concerns over Russia and potential U.S. disengagement. Meanwhile, countries like Japan, Germany, and Sweden, which joined NATO in 2024, are signaling long-term increases in military budgets. SIPRI analysts warn that unless there is a political shift toward diplomacy and peacebuilding, the global trend of rising military spending is likely to continue into 2025 and beyond.
Yahoo
29-04-2025
- Business
- Yahoo
Global arms spending made biggest post-Cold War jump in 2024: Report
THE HAGUE, Netherlands — Global military spending surged to an unprecedented $2.72 trillion in 2024, jumping 9.4% from the previous year and marking the steepest annual increase since the end of the Cold War. The Stockholm International Peace Research Institute reported the stark increase in its highly anticipated annual report, which was released on Monday. It marks the tenth consecutive year of growth in worldwide military spending and was driven by heightened geopolitical tensions across all regions, with particularly rapid growth in Europe and the Middle East amid ongoing conflicts in Ukraine and Gaza. Overall, 2.5% of the combined global economic power was spent on the military last year, SIPRI researchers determined. 'Over 100 countries around the world raised their military spending in 2024,' said Xiao Liang, 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,' he added. The United States maintained its position as the world's dominant military spender at $997 billion, accounting for 37% of global expenditure. China followed at an estimated $314 billion, with Russia ($149 billion), Germany ($88.5 billion), and India ($86.1 billion) rounding out the top five. Together, these nations accounted for 60% of worldwide military spending. NATO members collectively spent $1.51 trillion on their militaries, accounting for more than half (55%) of global expenditures. Eighteen of the alliance's 32 members met or exceeded the 2% of GDP spending target that NATO leaders committed to in 2014, up from 11 members in 2023. Russia's military expenditure surged by 38% compared to 2023, reaching an estimated $149 billion - double what it spent in 2015. This figure represented 7.1% of Russia's GDP and 19% of its total government expenditure. Israel's spending was 65% higher than in 2023, while Poland, already a top NATO spender, invested 31% more. Ukraine ranked as the eighth largest military spender globally with expenditures of $64.7 billion - a staggering 34% of its GDP, the highest military burden of any country in 2024. In the light of Russia's full-scale invasion of the country, which commenced in February 2022 and came after more limited incursions in 2014, Kyiv has found itself in dire need of extensive and rapid armament. Its 2024 defense spending was 1,251% higher than it had been a decade ago, SIPRI calculated. 'Ukraine currently allocates all of its tax revenues to its military,' said Diego Lopes da Silva, senior researcher with the SIPRI Military Expenditure and Arms Production Programme. 'In such a constrained fiscal environment, it will be difficult for Ukraine to continue to raise its military expenditures.' Ukraine's neighbors are also beefing up their war machines, with European military spending rising by 17% to $693 billion, pushing the continent's defense budgets beyond Cold War-era levels. Germany emerged as Western Europe's number one military spender for the first time since reunification, with expenditures rising 28% year over year to $88.5 billion. The Middle East, rocked by the first direct military exchange between Israel and Iran as well as Israel's ongoing war in Gaza, saw substantial increases. Israel's military spending jumped to $46.5 billion amid its war in Gaza and conflict with Hezbollah, a value representing 8.8% of the country's GDP. Meanwhile, China continued its 30-year streak of consecutive annual increases in military spending, as it continued its saber-rattling toward Taiwan. Beijing's spending now stands 59% higher than it did a decade ago. Japan's military expenditure also grew by a staggering 21% in the past year to a sum total of $55.3 billion, marking its biggest annual increase since 1952. 'With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral,' said Nan Tian, director of SIPRI's Military Expenditure and Arms Production Programme, of Asia. Last year, the world spent $334 on the military per capita, the highest level since the end of the Cold War. The SIPRI report warned that many countries' pledges to increase military spending further will lead to critical questions about fiscal sustainability and resource allocation away from social and development priorities.
Euronews
29-04-2025
- Business
- Euronews
Global military expenditure sees steepest year-on-year rise since end of Cold War
ADVERTISEMENT Global military spending reached its highest year-on-year rise since the end of the Cold War in 2024, a new study has revealed. According to data compiled by the Stockholm International Peace Research Institute (SIPRI), the world's 15 largest spenders all increased their military expenditure in 2024 compared with 2023, with growth especially rapid in Europe and the Middle East. The world's top ranked spenders — the US, China, Russia, Germany and India — spent a combined total of $1.635 trillion (€1.437 trillion), accounting for 60% of total global military spending. Meanwhile, real term military spending increased by 9.4%, taking worldwide total military expenditure to $2.718 trillion (€2,389 billion), and the global military burden — the share of global economic output devoted to military expenditure — increased to 2.5% of GDP. Spending in Europe drives global surge Since Russia launched its full-scale invasion of Ukraine in 2022, the war has been a continual driver of increased military expenditure across the European continent. All European countries, with the exception of Malta, increased their military spending in 2024, according to the report. Germany broke records in 2024 by spending €77.89 billion ($88.5 billion) on its military, making it the biggest spender of the year in Central and Western Europe. Meanwhile, Poland's military spending grew by 31% to $38 billion (€33.4 billion) last year, or 4.2% of GDP. As for Ukraine itself, total military expenditure grew by 2.9% in 2024, hitting $64.7 billion (€56.8 billion). That equates to 43% of Russia's spending, and the largest proportional military burden of any country last year. The SIPRI's study included Russia's spend of $149 billion (€131 million) in the European total, which reached $693 billion (€609 billion). What's coming in 2025? In 2023, the Uppsala Conflict Data Program (UCDP) recorded a record-high number of 59 state-based armed conflicts, the most since their data collection began in 1946 — a trend which looks set to continue this year. "As governments increasingly prioritise 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," said Xiao Liang, Researcher with the SIPRI Military Expenditure and Arms Production Programme. Related Russia launches nearly 150 drones into Ukraine leaving at least one dead Fact-check: Is the US blocking German plans to send Taurus missiles to Ukraine? In March, European Commission President Ursula von der Leyen proposed the Rearm Europe Plan, which she said could see member states mobilise up to €800 billion to finance a massive ramp-up in defence spending. "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 Lorenzo Scarazzato, Researcher with the SIPRI Military Expenditure and Arms Production Programme
