Record American Military Spending Tops Next 11 Countries Combined

 

by Kyle Anzalone | Apr 24, 2023

The share of world military expenditure of the 15 countries with the highest spending in 2022

Global weapon expenditure hit a record $2.24 trillion in 2022, an increase of nearly four percent. An international watchdog found the trend is led by European countries returning to Cold-War spending levels. The US remained the world’s largest spender on war. 

The Stockholm International Peace Research Institute (SIPRI) released its annual report, finding worldwide military expenditures increased for the eighth consecutive year. Dr. Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Program, said, “The continuous rise in global military expenditure in recent years is a sign that we are living in an increasingly insecure world.”

European military spending has increased by 13%. For many nations on the continent, weapons expenditures increased to levels not seen since the Cold War. Finland (+37%), Lithuania (+27%), Sweden (+12%), and Poland (+11%) all increased their military spending by more than Russia, which saw a 9.2% bump as it fought a war in Ukraine. Kiev saw its year-to-year war spending increase by 640% to $44 billion. 

According to the SIPRI report, American military spending continues to smash records. The nearly $20 billion in weapons Washington shipped to Kiev last year is the largest amount of security assistance one country has ever provided to another in a single year. 

Additionally, the US was the world’s largest military spender at $877 billion. That amount is more than the total military spending of the next 11 highest-spending countries. Many of the other top-spending nations are allies of Washington. Military expenditures among NATO members topped $1.23 trillion.

William Hartung, Senior Researcher at the Quincy Institute, explained increasing military expenditures is a bad sign for peace. “The surge in spending does not bode well for global peace and stability.” He continued, “but the prospects for war and peace hinge on more than just money spent; the key question is whether diplomatic initiatives aimed at ending current conflicts and reducing mounting tensions among major powers can take precedence over war and preparations for war in government policies.”

About Kyle Anzalone

Kyle Anzalone is news editor of the Libertarian Institute, opinion editor of Antiwar.com and co-host of Conflicts of Interest with Will Porter and Connor Freeman.

https://libertarianinstitute.org/news/record-american-military-spending-equals-total-of-next-11-countries/