Global Military Spending Up 9 Pct in 2024; Japan Up 21 Pct
London, April 28 (Jiji Press)--Global military expenditure grew 9.4 pct from the previous year to a record 2,718 billion dollars in real terms, up for the 10th straight year, amid Russia's continued invasion of Ukraine and the worsened Middle East situation, the Stockholm International Peace Research Institute said Monday.
Japan's defense expenditure rose 21 pct from the previous year to reach 1.4 pct of its gross domestic product, the highest since 1958, reflecting its concern about China's increasing assertiveness, according to the Swedish institute.
China was the world's second largest military spender after the United States, with its spending up 7 pct and accounting for half of total military spending in the Asia and Oceania region.
Overall military spending in Europe, including Russia, jumped 17 pct to exceed the level at the end of the Cold War. All countries in the region except Malta expanded military expenditures.
Eighteen of the 32 NATO members spent at least 2 pct of their respective GDP.
(2025/04/28-17:44)
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