In 2022, Global military spending broke the record of the last 8 years

In 2022, global arms spending rose by 3.7 percent to $2.24 trillion. According to a report by the Stockholm International Peace Research Institute released on April 24, military spending rose by 19 percent between 2013 and 2022.

The top three countries that spend the most on defense are the US, China and Russia. They make up 56% of the world volume. India and Saudi Arabia also rank high in terms of military spending.

“The steady rise in global military spending in recent years is evidence that we live in an increasingly dangerous world,” says researcher Nan Tian.

The authors of the report note that military spending in Central and Western Europe has returned to the level of the Cold War. The sharpest increases in military spending were recorded in Finland (36 percent), Lithuania (27 percent), Sweden (12 percent) and Poland (11 percent).

The Institute's experts believe that the situation in Ukraine influenced the immediate decision on military spending in Central and Western Europe.