Global Military Spending Tops $2 Trillion for First Time as Europe Boosts Defenses
- SIPRI institute report shows defense outlays grew 0.7% in 2021
- Growth trend in Europe seen intensifying after war in Ukraine
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Global military expenditure has surpassed $2 trillion per year for the first time, and looks set to rise further as European countries beef up their armed forces in response to Russia’s invasion of Ukraine.
In 2021, countries spent a total of $2,113 billion on their militaries, up 0.7% in real terms from the year before, according to a report released Monday by the Stockholm International Peace Research Institute, or SIPRI.