Ukraine’s military expenditure grew by 21%, to $4.8 billion in 2018. Total world military expenditure rose to $1.8 trillion in 2018, representing an increase of 2.6% from 2017, according to new data from the Stockholm International Peace Research Institute (SIPRI).
The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60% of global military spending. Military spending by the USA increased for the first time since 2010, while spending by China grew for the 24th consecutive year. Total global military spending rose for the second consecutive year in 2018, to the highest level since 1988 – the first year for which consistent global data is available. World spending is now 76% higher than the post-cold war low in 1998. World military spending in 2018 represented 2.1% of global gross domestic product (GDP) or $239 per person. (UNIAN/Business World Magazine)