Global General Government Expenditure on Defence by Country

Global General Government Expenditure on Defence varies significantly by country. In 2024, Israel leads with a defence expenditure of 4.67% of GDP, while Iceland has the lowest at 0.11%. Among the countries listed, most are seeing year-on-year increases in their defence budgets such as Hungary (8.09%) and Iceland (38.99%). Conversely, some countries, like Chile (-6.11%) and Ireland (-8.88%), show declining defence expenditures in recent years.

Trends to watch include:

• Countries like Hungary and Belgium, experiencing significant increases, may continue to boost their defence sectors substantially.
• The decline in defence spending in countries such as Ireland and Chile might affect their military readiness.
• High spenders like Israel could re-evaluate their allocations based on geopolitical factors and budget constraints.
• Emerging threats and strategic alliances will likely shape future global defence expenditure trends.