The analysis of global general government expenditures on defence reveals variations among countries. Israel leads with 12.79% of government expenditure on defence, despite a 1.54% year-on-year decline. The United States and South Korea follow with 8.23% and 7.63% respectively, both registering slight declines. Notable increases include Iceland with a 26.19% jump and Latvia and Estonia with steady increases. Greece and Chile show significant decreases due to economic adjustments and strategic reviews.
Future trends to watch include shifts in defence spending due to geopolitical tensions and economic capabilities. Countries like Latvia, Estonia, and Romania are expected to continue increasing their defence budgets. Technological advancements and regional security alliances will also play crucial roles, potentially reshaping defence expenditure trends globally.
Top countries in General Government Expenditures on Defence by Country
| # | 10 Countries | Percent of General Government Expenditure | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Israel | 12.79 | 2023 | -1.24% | -1.54% | View data |
| 2 | 2 United States | 8.23 | 2023 | -1.2% | -0.64% | View data |
| 3 | 3 South Korea | 7.63 | 2023 | -0.13% | -0.49% | View data |
| 4 | 4 Australia | 6.26 | 2023 | +0.97% | +0.95% | View data |
| 5 | 5 Latvia | 5.71 | 2023 | +2.7% | +1.27% | View data |
| 6 | 6 Estonia | 5.6 | 2023 | +1.27% | +1.65% | View data |
| 7 | 7 Lithuania | 5.24 | 2023 | +1.75% | +0.62% | View data |
| 8 | 8 Romania | 5.16 | 2023 | +1.78% | +1.5% | View data |
| 9 | 9 United Kingdom | 4.65 | 2023 | -0.64% | +0.44% | View data |
| 10 | 10 Greece | 4.06 | 2023 | -1.69% | -2.8% | View data |
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