24 April 2023 at 06:33 Sipri: The world spent a record amount on weapons last year The world’s total military expenditure was 2,240 billion dollars – approximately 24,000 billion Norwegian kroner – in 2022. This is according to the annual overview from the Swedish peace research institute Sipri. The sum corresponds to 2.2 percent of the entire world’s gross domestic product (GDP), writes AFP. It is the eighth year in a row that the world has set a new record for money for the military. The increase is due to the war in Ukraine and higher tension in East Asia, particularly around Taiwan. The US accounted for 39 per cent of military expenditure, while China accounted for 13 per cent. Followed by Russia (3.9 percent), India (3.6 percent) and Saudi Arabia (3.3 percent) Europe had the largest increase in military spending, with 13 percent. In total, Europe spent 480 billion euros – over NOK 5,600 billion – on the military. In South and Central America, there was a decrease in spending on the military. A number of African countries also cut their military expenditure. Nigeria cut by a third.
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