2024-04-26 04:24:01
Global defense spending has reached a historic record.
As Day.Az reports with reference to Gazeta.ru, the Stockholm International Peace Research Institute (SIPRI) reports this in its report.
According to the report, global military spending in 2023 reached $2.443 trillion. This figure is 6.8% more than in 2022. The increase was the highest since 2009, and global defense spending reached the highest level the institute has ever recorded.
Total military spending this year amounted to 2.3% of global GDP. The top five countries with the highest spending in this area were the United States of America, China, Russia, India and Saudi Arabia. These states accounted for 61% of global military spending.
The USA and China are the leaders of this world ranking; their military expenditures this year amounted to $916 billion and $296 billion, respectively. These two states account for about half of all global defense spending.
Ukraine is in eighth place with $64.8 billion.
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