Global military expenditure increased by 6.8% in 2023 year-over-year and reached a new record high of $2,443 billion, with the three largest spenders being the US, China and Russia, according to new data published on Monday by the Stockholm International Peace Research Institute (SIPRI).
"World military expenditure rose for the ninth consecutive year to an all-time high of $2,443 billion," SIPRI said.
Moreover, military expenditure increased in all five of the geographical regions defined by SIPRI, the institute added.
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