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This marks a 6.8% increase from 2022 and the ninth straight year of rising military expenditures; it was also the steepest annual rise since 2009. The United States remains the highest spender with a $916 billion defense budget in 2023, while China ranks second with $296 billion. The report shows that recent increases in military expenditure are largely due to the ongoing war in Ukraine and escalating geopolitical tensions in Asia, Oceania, and the Middle East.
The Stockholm International Peace Research InstitNATO spending target ute said in a statement the United States, China and Russia were the top spenders in 2023.
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