Global military spending hit a new high in the year Russia invaded Ukraine. They rose by an inflation-adjusted 3.7 percent to $2.24 trillion in 2022, according to a report released on Monday by the Stockholm-based peace research institute Sipri. Europe saw the highest increase in at least 30 years due to Russia’s war of aggression against Ukraine and concerns of an increased Russian threat elsewhere.
Viewed worldwide, the countries of the world put more money into the military for the eighth year in a row than in the previous year. In view of the current security situation, peace researchers expect this trend to continue in the coming years. The USA remains the clear leader in spending, followed by China and Russia, which jumped from fifth to third place due to the war. Ukraine posted a 640 percent increase to 11th from 36th last year. Germany remains seventh after an increase of 2.3 percent.
The annual Sipri report is considered the world’s most comprehensive collection of data on countries’ military spending. The peace researchers also count expenses for personnel, military aid and military research and development among the expenses.
