Global Military Spending Hits All-Time High in 2023, Israel Records 24% Jump

TEMPO.CO, Jakarta - Global military expenditure in 2023 reached a record high at US$2,443 billion or around Rp39.66 quadrillion, according to the latest data released by the Stockholm International Peace Research Institute (SIPRI).

"World military expenditure rose for the ninth consecutive year to an all-time high of $2443 billion," according to SIPRI on Monday, April 22, 2024.

The agency notes that the trend of increasing military spending is occurring across continents, with the United States, China, and Russia being the three countries with the biggest military expenditure in 2023.

SIPRI states that the Military spending by the USA rose by 2.3 percent to reach $916 billion in 2023 or 37 percent of the military expenditure of all countries in the world.

Following the United States, China has the second largest military expenditure with US$296 billion or around Rp4.8 quadrillion, or 12 percent of global military spending.

The country with the third largest military expenditure is Russia, which spent US$109 billion or around Rp1.77 quadrillion, or 4.5 percent of global military expenditure. Russia's military spending in 2023 rose 24 percent compared to its spending in 2022, SIPRI said.

This institution also noted an increase in military spending of 9 percent in Middle Eastern countries, especially Israel, which is currently continuing its military aggression in the Gaza Strip.

Israel spent US$27.5 billion or around Rp4.46 quadrillion on military spending in 2023, an increase of 24 percent from the previous year, according to SIPRI.

ANTARA

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