The world’s total military expenditure surpassed US$ 2.24 trillion in 2022, with Europe recording its steepest rise in the last three decades, according to the annual defense expenditure report of the Stockholm International Peace Research Institute (SIPRI) published on Monday, April 24.
The annual report notes that the global defense expenditure rose by 3.7% since the last year, when it was US$ 2.11 trillion. 2022 was the eighth consecutive year which saw an increase in the global defense expenditure. In nominal terms, looking at current prices without adjusting to inflation, the increase in total global military expenditure was over 6.5% in comparison to the previous year.
The US remains by far the largest global spender with a defense budget of over US$ 877 billion in 2022—three times more than the second largest spender, China, which spent US$ 292 billion. US$ 19.9 billion of the US the budget was comprised military aid to Ukraine.
The US and its NATO allies have been the primary reason for the rising defense expenditure and weaponization in the world.
The US alone accounts for 39% of the world’s total defense expenditure. This is more than the total defense expenditure of all the countries in the list of top 10 military spenders including China, Russia, and India.
The 15 top spenders in 2022 together accounted for 82% of world #MilitaryExpenditure, or $1842 billion. The #USA🇺🇸and #China🇨🇳remained the two largest spenders, accounting for 39% and 13%, respectively ➡️ https://t.co/qBe5MZu9fi
Explore the top 15 ➡️ https://t.co/GRbPi3w6kr pic.twitter.com/Cx4J973HkU
— SIPRI (@SIPRIorg) April 24, 2023
According to the SIPRI report, the 31 NATO members together spent over US$ 1.23 trillion—more than half of the world’s total military expenditure in 2022. If close allies such as Japan and South Korea were added to the list, the total share of the US and its allies reaches close to two-thirds of the total global military expenditure.
Japan increased its military spending by 5.9% in 2022. It spent US$ 46 billion, which was over 1.1% of its GDP, the highest since 1960. South Korea spent US$ 46.4 billion on its military in 2022.
Another SIPRI report on global arms exports published earlier this year had recorded that nearly 65% of all arms exports in the world were controlled by the US and its NATO allies.
The report noted that China’s military expenditure in 2022 increased by 4.2% in comparison to 2021. Among the other major military spenders are Russia (US$ 86.4 billion), India (US$ 81.4 billion), Saudi Arabia (US$ 75 billion), and the UK (US$ 68.5 billion), along with Germany and France.
War in Ukraine pushes Europe’s defense expenditure
The SIPRI reports indicate that the war in Ukraine was the main reason for the rise in defense expenditure of various European countries in 2022. Europe overall recorded a 13% rise in its total defense expenditure last year.
Military expenditure in Europe saw its steepest year-on-year increase (⬆️13%) in at least 30 years. Ukraine’s🇺🇦 military spending rose by 640% to $44 billion in 2022 ➡️ https://t.co/CUMd3854kT
Explore the interactive map of Europe ➡️ https://t.co/3yjLK4aWVJ pic.twitter.com/ImQ7Beva7C
— SIPRI (@SIPRIorg) April 24, 2023
The real defense expenditure of countries in Central and Western Europe was close to US$ 345 billion, crossing the previous highest total that was recorded in 1989.
European countries seemingly decided to give priority to their military preparedness over tackling the growing economic concerns of their populations given the ongoing cost of living crisis. Most European countries are witnessing increasing anger from working class sections who are unable to meet their basic needs due to the rising prices of basic commodities. This has had little to no effect on governments, which decided to ape the US policy of sanctions against Russia—among the most important suppliers of grain and energy resources—and participate in the US military tactics.
The report also notes that Ukraine recorded a whopping 640% rise in its defense expenditure in 2022—the single largest percentage increase in a country’s defense expenditure ever recorded by SIPRI. In 2022, Ukraine spent US$ 44 billion on its defense, or 34% of its GDP. In 2021, the share of Ukraine’s defense expenditure as part of its GDP was just 3.2%.
Nordic country Finland, which also joined NATO earlier this month, recorded a 36% increase in its defense expenditure. Certain East European countries have also recorded double digit growth in their defense expenditure, including Lithuania (27%), Sweden (12%), and Poland (11%).
