STOCKHOLM, April 22. /TASS/. Global military spending reached an all-time high of $2.443 trillion in 2023, in the biggest yearly increase since 2009, the Stockholm International Peace Research Institute said.

The expenditures were up 6.8% from 2022, according to data compiled by the institute.

World military expenditure rose for the ninth consecutive year, going up in all five geographical regions defined by SIPRI, with particularly large increases recorded in Europe, Asia and Oceania and the Middle East.

Military spending as a percentage of global gross domestic product increased to 2.3% in 2023. The biggest spenders were the US, China, Russia, India and Saudi Arabia, which collectively made up 61% of the world’s military expenditures.

The US and China allocated $916 billion and $296 billion, respectively, to their military.

"The unprecedented rise in military spending is a direct response to the global deterioration in peace and security," said Nan Tian, senior researcher with SIPRI’s Military Expenditure and Arms Production Program. "States are prioritizing military strength but they risk an action-reaction spiral in the increasingly volatile geopolitical and security landscape.".