STOCKHOLM, April 28. /TASS/. Global military expenditures in 2024 soared to $2.718 trillion, marking a 9.4% increase from the previous year - the steepest annual rise since the Cold War's end, according to a report by the Stockholm International Peace Research Institute (SIPRI). This surge reflects a widespread expansion across all regions, with Europe and the Middle East experiencing particularly rapid growth. Notably, five countries - the United States, China, Russia, Germany, and India - accounted for 60% of global military spending, totaling approximately $1.635 trillion. Overall, 15 nations with the largest defense budgets increased their expenditures in 2024, pushing the share of the global GDP allocated to defense to 2.5%.
Russia and Ukraine
Russia's military spending reached an estimated $149 billion in 2024, a 38% increase from 2023 and double its 2015 level. This accounts for 7.1% of Russia’s GDP and 19% of its total budget expenditures, SIPRI reports. Meanwhile, Ukraine's military expenses grew by 2.9% to $64.7 billion, representing 43% of Russia's military spending. Ukraine's military burden is extraordinary, amounting to 34% of its GDP - a figure that places it at the top globally in terms of military financial strain.
Europe, NATO, and the United States
European military spending, including Russia, increased by 17% to $693 billion - surpassing levels seen at the end of the Cold War. As the Ukraine conflict persists into its third year, all European nations except Malta have boosted their defense budgets. Several countries, notably Germany and Poland, posted record increases: Germany’s expenditures rose 28% to $88.5 billion (the largest in Central and Western Europe and fourth worldwide), while Poland’s military spending surged 31% to $38 billion, constituting 4.2% of its GDP.
All NATO members increased their military outlays in 2024, with the alliance’s total reaching $1.506 trillion. Of the 32 NATO members, 18 now spend at least 2% of their GDP on defense - up from 11 in 2023 - marking the highest number since NATO adopted its 2% guideline in 2014.
Middle East
Military expenditures across the Middle East hit $243 billion in 2024 - a 15% rise from 2023 and a 19% increase since 2015. Israel saw the most significant jump, with spending soaring 65% to $46.5 billion, the largest annual increase since the Six-Day War in 1967. The escalation is linked to ongoing conflicts in Gaza and with Hezbollah in southern Lebanon. Israel allocates up to 8.8% of its GDP to defense, the second - highest worldwide. Lebanon’s military spending grew by 58% to $635 million amid economic and political turmoil, while Iran reduced its military budget by 10%, to $7.9 billion.
China, India, and Japan
China remains the world’s second - largest military spender, increasing its military budget by 7% to approximately $314 billion in 2024 - representing half of all military spending in Asia and Oceania. Taiwan’s military expenditure rose 1.8% to $16.5 billion, a figure counted separately from mainland China. Japan experienced its largest defense budget increase since 1952, with spending up 21% to $55.3 billion - the highest proportion of the GDP dedicated to defense since 1958.
India, ranking fifth globally, saw its military spending grow modestly by 1.6% to $86.1 billion, according to SIPRI estimates.