Global Military Spending Exceeds $2.7 Trillion: Report

Contact Your Elected Officials

Spending by the United States rose by 5.7 percent and China by 7 percent.

Military expenditure worldwide hit $2.178 trillion last year, rising for the 10th straight year, with the United States spending nearly $1 trillion, the Stockholm International Peace Research Institute (SIPRI) said in an April 28 statement.

Global expenditure saw an increase of โ€œ9.4 percent in real terms from 2023 and the steepest year-on-year rise since at least the end of the Cold War,โ€ the report said.

โ€œThe worldโ€™s 15 largest spenders in 2024 all increased their military expenditure. The global military burdenโ€”the share of global gross domestic product (GDP) devoted to military expenditureโ€”increased to 2.5 percent in 2024.โ€

The United Statesโ€™ military spending jumped 5.7 percent from 2023 to hit $997 billion last year.

โ€œA significant portion of the U.S. budget for 2024 was dedicated to modernizing military capabilities and the U.S. nuclear arsenal in order to maintain a strategic advantage over Russia and China,โ€ SIPRI said.

U.S. military spending accounted for 66 percent of total NATO expenditure last year. European NATO members spent $454 billion, making up 30 percent of the military allianceโ€™s spending.

According to SIPRIโ€™s analysis, out of the 32 NATO member nations, only 18 spent 2 percent of their GDP on military.

NATOโ€™s military spending guideline from 2014 requires members to meet the 2 percent GDP target.

The current U.S. administration is pressing NATO to spend more than that on defense. During a Jan. 23 address at the World Economic Forum, President Donald Trump asked all NATO nations to increase defense spending to 5 percent of their GDP.

This โ€œis what it should have been years agoโ€”it was only at 2 percent, and most nations didnโ€™t pay until I came along, I insisted that they pay, and they did,โ€ he said.

The same day, Mark Rutte, the secretary general of NATO, said Trump was right to demand that NATO members spend 5 percent on defense.

As for Europe specifically, military expenses in 2024 jumped 17 percent yearly to $693 billion, according to the SIPRI report. It said Europe was the โ€œmain contributorโ€ to the global increase in military expenditures last year.

Byย Naveen Athrappully

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

ChatGPT Goes Biblical about End Times!

There are some truly outstanding internet content creators, or...

Bangkok Indians: โ€˜You Are Lucky Manโ€™

In Bangkok, friendly prostitutes outside โ€œmassageโ€ shops tell me Iโ€™m โ€œso handsome man.โ€ Indian men prowling those streets tell me Iโ€™m โ€œlucky man.โ€

Epsteinโ€™s Niece Exposes the Illuminati!

There is a shocking interview by the podcaster Shaun Attwood, an English former ecstasy trafficker turned YouTube podcaster, speaker, activist, and author.

When Gynocrats Attack: Innocent Locker Room Talk Interrupted By Rabid Karen

The question posed: โ€œWho do you think has a...

Obamaโ€™s Treason is a Betrayal of American Democracy and Demands Real Accountability

Few scandals have cast a longer shadow than the 2016 Russia investigationโ€”the manufactured crisis by President Obama designed to cripple Trump's presidency.

Education Department to Release Billions in Withheld Grant Money for Schools

Dept. of Education said OMB completed a review of 2025 public education allocations โ€œand will begin dispersing funds to the states next week.โ€

Judge Maintains Nationwide Block on Trumpโ€™s Birthright Citizenship Order

A federal judge in Massachusetts has maintained his nationwide block on President Donald Trumpโ€™s policy restricting birthright citizenship.

COVID-19 Pandemic Accelerated Brain Aging Even in People Who Didnโ€™t Get Virus: Study

Brain aging appears to have accelerated by months during COVID-19 pandemic, even in people who did not get sick from the virus, according to study.

US Witnessing โ€˜CapEx Comebackโ€™ as Investment Wave Hits Economy: Treasury

The U.S. economy is experiencing a โ€œCapEx Comebackโ€ this year as private-sector investment soars, the Treasury Department said.

Ex-DOJ Officials File Lawsuit Against Bondi Over Terminations

Former DOJ officials filed lawsuit against AG Bondi and the fed. govt, saying they were terminated for work on cases related to Jan. 6 Capitol breach.

Odds of U.S.-EU Trade Deal Are 50โ€“50 Ahead of Tariff Deadline: Trump

President Donald Trump said thereโ€™s a 50โ€“50 chance that the United States will finalize a trade deal with the European Union before an Aug. 1 deadline.

Trump Pulls Habbaโ€™s Nomination for New Jerseyโ€™s Top Prosecutor, Making Her Acting US Attorney

President Trump withdrew his nomination of Alina Habba to serve as NJโ€™s top federal prosecutor, making her Acting US Attorney.

Trump Says He Wants Muskโ€™s Companies to โ€˜Thrive Like Never Beforeโ€™

On Thursday, President Trump said, โ€œI want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!โ€
spot_img

Related Articles