World military spending grew for the eighth consecutive year in 2022 to an all-time high of US$2,240 billion theSun theSundaily Military UkraineWar RussianArmy finances
Filepix: Russian servicemen patrol the destroyed part of the Ilyich Iron and Steel Works in Ukraine’s port city of Mariupol on May 18, 2022, amid the ongoing Russian military action in Ukraine. AFPPIX: Global military expenditure increased by 3.7 per cent last year and reached a new record high of US$2,240 billion, with the three largest spenders being the United States, China and Russia, according to new data published on Monday by the Stockholm International Peace Research Institute .
The United States remains the world’s biggest military spender with its military expenditure having reached US$877 billion last year, which is 39 per cent of total global military spending. China was the world’s second largest military spender in 2022, having spent US$292 billion, or 4.2 per cent more than in 2021, according to SIPRI.
Meanwhile, Ukraine’s military spending saw the highest single-year increase in a country’s military expenditure ever recorded in SIPRI data, reaching US$44.0 billion in 2022, which was a 640% increase.
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