Global defence budget jumps to record high of $2440bn

For the first time, government military spending increased in all five geographical regions, Sipri thinktank finds

Global military expenditure has reached a record high of $2440bn (1970bn) after the largest annual rise in government spending on arms in over a decade, according to a report.

The 6.8% increase between 2022 and 2023 was the steepest since 2009, pushing spending to the highest recorded by the Stockholm International Peace Research Institute (Sipri) in its 60-year history.