World Military Spending Hits $2.7 Trillion in Record 2024 Surge

This photo taken on April 25, 2025 shows a person looking through the sight of a gun during the 2025 NRA Annual Meetings & Exhibits at the Georgia World Congress Center in Atlanta, Georgia. (Photo by LEANDRO LOZADA / AFP)
This photo taken on April 25, 2025 shows a person looking through the sight of a gun during the 2025 NRA Annual Meetings & Exhibits at the Georgia World Congress Center in Atlanta, Georgia. (Photo by LEANDRO LOZADA / AFP)
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World Military Spending Hits $2.7 Trillion in Record 2024 Surge

This photo taken on April 25, 2025 shows a person looking through the sight of a gun during the 2025 NRA Annual Meetings & Exhibits at the Georgia World Congress Center in Atlanta, Georgia. (Photo by LEANDRO LOZADA / AFP)
This photo taken on April 25, 2025 shows a person looking through the sight of a gun during the 2025 NRA Annual Meetings & Exhibits at the Georgia World Congress Center in Atlanta, Georgia. (Photo by LEANDRO LOZADA / AFP)

World military expenditure reached $2.72 trillion in 2024, an increase of 9.4% from 2023 and the steepest year-on-year rise since at least the end of the Cold War, according to a report released by a leading conflict think tank on Monday.

Heightened geopolitical tension saw increased military spending in all world regions, with particularly rapid growth in both Europe and the Middle East, data from the Stockholm International Peace Research Institute (SIPRI) showed.

“Over 100 countries around the world raised their military spending in 2024,” SIPRI said. “As governments increasingly prioritize military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come,” it said.

The war in Ukraine and doubts over US commitment to the NATO-alliance saw military spending in Europe (including Russia) rise by 17%, pushing European military spending beyond the level recorded at the end of the Cold War.

Russia's military expenditure reached an estimated $149 billion in 2024, a 38% increase from 2023 and double the level in 2015. This represented 7.1% of Russia's GDP and 19% of all government spending.

Ukraine's total military expenditure grew by 2.9% to reach $64.7 billion, which amounts to 43% of Russia's spending. At 34% of GDP, Ukraine had the largest military burden of any country in 2024.

“Ukraine currently allocates all of its tax revenues to its military,” SIPRI said. “In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending.”

Military spending by the US rose by 5.7% percent to reach $997 billion, which was 66% of total NATO spending and 37% of world military spending in 2024.



Explosion at Chemical Plant Near Spain’s Seville Leads to Warnings for Thousands

A picture taken in Seville on May 14, 2025 shows a large black cloud after a fire in a chemical distribution building that led authorities to ask nearly 80,000 residents to stay home. (AFP)
A picture taken in Seville on May 14, 2025 shows a large black cloud after a fire in a chemical distribution building that led authorities to ask nearly 80,000 residents to stay home. (AFP)
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Explosion at Chemical Plant Near Spain’s Seville Leads to Warnings for Thousands

A picture taken in Seville on May 14, 2025 shows a large black cloud after a fire in a chemical distribution building that led authorities to ask nearly 80,000 residents to stay home. (AFP)
A picture taken in Seville on May 14, 2025 shows a large black cloud after a fire in a chemical distribution building that led authorities to ask nearly 80,000 residents to stay home. (AFP)

An explosion at a chemical plant near the Spanish city of Seville sent up a huge pillar of smoke as authorities urged nearby residents to stay indoors, but no injuries were reported, emergency services said Wednesday.

Officials sent messages to around 80,000 residents recommending that they wear face masks or close their windows.

The explosion occurred midday in an industrial park in the municipality of Alcalá de Guadaíra, about 16 kilometers (10 miles) east of Seville’s city center.

Emergency services cleared personnel from the plant site.

Authorities have not said what chemicals are at the plant or who owns it.

Recent incidents Spain's industrial, electric and transport infrastructure has faced issues recently.

Over the weekend, a fire at a chemical factory in northeastern Spain forced emergency services to issue health warnings to 150,000 residents and stay-indoors orders for five nearby towns.

On April 28, a massive power outage hit Spain and Portugal. Authorities are still investigating but have ruled out a cyber attack or sabotage.

That was followed by major train disruption between Madrid and Seville, caused by thieves who took copper cabling from a trail line.