2 trillion 700 billion dollars global military spending in 2024
Global Military Expenditure Hits Record High of $2.72 Trillion in 2024
According to a report by the English section of webangah News Agency, citing Mehr News Agency and Reuters, global military spending reached an unprecedented $2.72 trillion in 2024,as revealed by one of the moast reputable conflict studies think tanks on monday.This marks a 9.4% increase from 2023, the highest annual growth rate as the end of the cold War.
The Stockholm International Peace Research Institute (SIPRI) report highlights that rising geopolitical tensions have driven critically important military spending surges across all regions, especially in Europe and the Middle East, where growth has been notably faster.
the report states that over 100 countries…Global Military Expenditures Rise Sharply in 2024
Countries worldwide have increased thier military spending in 2024.
The institute also warned that governments’ growing prioritization of military security frequently enough comes at the expense of reduced budgets elsewhere, which could have significant long-term economic and social consequences for societies.The ongoing war in Ukraine and uncertainties about the U.S. commitment to NATO have driven a 17% increase in military expenditures across Europe (including Russia), surpassing post-Cold War levels.
Russia’s military spending reached approximately $149 billion in 2024—a 38% surge from the previous year and double its 2015 level. This figure accounts for 7.1% of Russia’s GDP and 19% of its total government budget.
Simultaneously occurring, Ukraine’s military expenditures grew by 2.9%, reaching $64.7 billion, equivalent to 43% of its total spending…Ukraine has allocated 34% of its GDP to defense, the highest military spending share of GDP among all countries in 2024.
The report emphasizes that Ukraine is currently directing all tax revenues toward its military budget. Under such severe financial constraints, sustaining further increases in defense expenditures will be highly challenging for the country.
Meanwhile, U.S. military spending in 2024 grew by 5.7%, reaching $997 billion—accounting for 66% of NATO’s total expenditures and 37% of global military spending. This means the U.S. alone contributes over one-third of the world’s total defense costs.
