CNA Global defence spending reached record US$2.6 trillion last year: IISS

Countries are ramping up defence spending amid rising geopolitical tensions. A record US$2.6 trillion was spent in 2025 to bolster military readiness worldwide. But as the International Institute for Strategic Studies points out in its latest Military Balance report, that spending surge was not even. Analysts note China’s defence budget is outpacing the wider region, Europe’s military spending is seeing record growth to try to defend against Russia and the world as a whole is now spending more than 2% of GDP on defence. Olly Barratt reports from London.

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