World defense spending hits record high

According to SIPRI, global military spending in 2022 increased by 3.7% to a record high of $2.224 trillion. It also recorded a 19% increase in global defense spending compared to the 2013-2022 period and has increased annually since 2015.

The United States, China, Russia, India and Saudi Arabia are the world's leading military spenders. These five countries account for about 63% of spending on the world's military-industrial complex.

According to the study, the significant increase in defense spending is mainly related to the conflict in Ukraine. At the same time, European support for Kiev as well as increased spending by Russia forced some countries to adjust their military budgets. Correspondingly, US spending increased by 0.7%, to $877 billion. Of this, Washington's total military aid to Kiev alone amounted to $19.9 billion.

Ammunition is gathered at a joint US base for transport to Ukraine. Photo: AP

China has continued to increase its defense budget for 28 years, which is also a record. China's spending is reported to be $292 billion. According to experts, the Russian Federation's military spending increased by 9.2% to $86.4 billion (at the same time, SIPRI statistics warn that the figures for Russia may be inaccurate due to incomplete official information from the Russian government). Meanwhile, Ukraine's military spending increased by 640%, which is the highest increase in a country since 1949. Ukraine's defense budget in these new statistics amounts to $44 billion. However, the report does not mention aid from other countries to Kiev.

European military spending in 2022 increased by 13% to $480 billion, marking the highest growth in the past 30 years. Increased spending in some European countries, especially Russia and Ukraine, significantly impacted the record increase in the region. According to the report, among EU members, the countries with the largest increases in military spending were Finland (36%), Lithuania (27%), Sweden (12%) and Poland (11%)./.