(Stockholm, 22 April 2024) Total global military expenditure reached $2443 billion in 2023, an increase of 6.8 per cent in real terms from 2022. This was the steepest year-on-year increase since 2009.

Some key takeaways:

  • NATO represents 55% of the global military spending, while only representing ~20% of the global population.
  • An increase in military budget comes with a decreases of budget in education, healthcare, etc which will inevitably lead to worsening of living conditions.
  • Saudi Arabia and Israel continue being the largest military spenders in the Middle East.
  • 37% of Ukraine total GDP goes to military spending.