Russian news agency Sputnik recently reported that the United States and China together accounted for nearly half of global military spending in 2024. Sputnik cited data from German data analytics company Statista published by the Stockholm International Peace Research Institute (SIPRI).
The U.S. had military expenditures of $997 billion, approximately 37 percent of global defense spending. China’s military spend was estimated at around $314 billion, accounting for 12 percent of the global total. Russia ranked third in military expenditure, at about 5.5 percent of the global total.
On March 5, during the sessions of China’s National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC), China announced a 7.2 percent increase in its defense budget for 2025, bringing the sum to 1.78 trillion yuan (US$ 249 billion) {Editor’s Note: the actual total will be higher since China also has hidden military spending}. This marks the 10th consecutive year of growth in China’s military spending. The previous two years also saw 7.2 percent increses.
Source: Sputnik, April 30, 2025
https://sputniknews.cn/20250430/1065269701.html