SAN DIEGO (Border Report) — Mexico’s military spending went up by 39% in 2024, making it the world’s third-largest increase percentage wise, according to the Stockholm International Peace Research Institute.
By comparison, military spending in the U.S. went up by 5.7%; the U.K. by 2.8%; and China by 7%.
In 2024, Mexico spent $16.7 billion on its military, primarily due to increased funding for its National Guard and navy, now involved in a militarized response to organized crime, according to SIPRI data.
Percentage wise, Israel led the list by increasing its military spending by 64% from the previous year.
Second on SIPRI’s list was Romania, as it bulked up its military in anticipation of a Russian invasion, similar to what happened in Ukraine, a bordering country.
Overall, SIPRI research shows military spending went up worldwide, with particularly rapid growth in both Europe and the Middle East.
The group’s data shows world-military expenditures reached $2.718 trillion in 2024, an increase of 9.4% when compared to 2023. SIPRI called it the “steepest year-on-year rise since the end of the cold war.”
According to SIPRI, the top five military spenders were the United States, China, Russia, Germany and India, which accounted for 60% of total global investment, with a combined $1.635 trillion.
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