Military spending at highest in more than 30 years
US military spending accounted for 36% of total global military expenditure, nearly equal to the next eight biggest-spending countries combined
Stockholm — Global military expenditure reached its highest level in 2018 since the end of the Cold War, fuelled by increased spending in the US and China, the world's two biggest economies, a leading defence think-tank said on Monday. In its annual report, the Stockholm International Peace Research Institute (Sipri) said overall global military spending in 2018 hit $1.82-trillion, up 2.6% on the previous year. That is the highest figure since 1988, when such data first became available as the Cold War began winding down. US military spending rose 4.6% in 2018 to reach $649bn, leaving it still by far the world's biggest spender. It accounted for 36% of total global military expenditure, nearly equal to the following eight biggest-spending countries combined, Sipri said. China, the second-biggest spender, saw military expenditure rise 5% to $250bn in 2018, the 24th consecutive annual increase. "In 2018, the US and China accounted for half of the world's military spending," Nan Tian, ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.