The Ukrainian war, as expected, increased Defense budget items, especially in Europe.
But the serious tensions between the United States and China in East Asia have also contributed to the record 2.24 trillion dollars to planetary military expenditures in 2022. That is equivalent to the 2.2% of the World Gross Domestic Product.
In the case of European countries, the Russian invasion of Ukraine has caused them to increase by a 13% on average compared to the previous year their military spending. In 2022 he stood at 480,000 million of dollars: something that had not occurred since the end of the Cold War, three decades ago.
“I would highlight a significant increase in spending in countries west of Russia, such as Lithuania, Finland and Sweden. And we also see an unsurprising increase from Ukraine of 640%, ”he explains to R.F.I. Albert Caramés, director of FundiPau, in Barcelona. “The Ukrainians have imported weapons from Europe and NATO.”
Furthermore, this trend is expected to continue and may even accelerate in the coming years. The United Kingdom occupies the first place in spending by Europeans and many, like Finland, have increased the game, mainly due to the acquisition of more technological and expensive weapons.
The United States continues to be by far the country with the highest military investment: in 2022 its Defense items represented 39% of global spending. “What is surprising given its high inflation”, points out Caramés.
China followed, with a 13%which is why both countries represent more than half of the funds allocated to this activity worldwide.
This tendency to increase spending is also observed in other Asian countries such as Japan, Indonesia, Malaysia or Vietnam.
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