Global Military Expenditure by Country

As of 2024, global military expenditure as a percentage of GDP showcases considerable variation across nations. Saudi Arabia remains the highest spender with 7.48%, though it has seen a 3.93% reduction. Conversely, Ukraine and Togo saw significant hikes of 16.97% and 22.93%, respectively. Oman, Kuwait, and Jordan also feature prominently within the top spenders. Notably, the United States and Russia also maintain stable expenditures, offset slightly by minor increases or decreases.

Over the last two years, key countries like Greece, Burkina Faso, and Afghanistan have witnessed substantial increases in their military spending, while nations such as Oman, Israel, and Pakistan recorded significant declines. Notable year-on-year hikes include Uganda at 10.92% and Ukraine at 16.97%. In contrast, reductions in military expenditure include Saudi Arabia and Bahrain.

Future Trends:

- Continuous uncertainty in geopolitical landscapes will likely drive nations such as Ukraine and defense-facing European countries to increase their military expenditure.- Oil-rich nations like Saudi Arabia and Oman may continue to recalibrate their budgets amid fluctuating oil revenues.- Emerging global powers like India and China may incrementally enhance their defense budgets to safeguard growing economic interests.