In 2023, global military expenditure showcased significant dominance by the United States, expenditure reaching $941.47 billion, followed by China at $308.95 billion. Russia and India maintained significant budgets at $88.312 billion and $84.986 billion, respectively. Emerging trends revealed Ukraine's expenditure surge by 56.24%, driven by the ongoing conflict. The Netherlands, Poland, Greece, and Belgium followed with notable increases between 6.9% and 8.44%. Conversely, Brazil and Iran witnessed declines of -6.4% and -9.37%, respectively.
Looking ahead to future trends in global military expenditure, key aspects to watch include continued escalations in regions experiencing conflict, such as Ukraine and significant investments by Europe and Asia-Pacific countries in bolstering defense capabilities. Additionally, technological advancements and shifts in geopolitical tensions will drive further changes in military budgets across various nations.
Top countries in Military Expenditure by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 941,470,000,000 | 2023 | +7.36% | +6.65% | View data |
| 2 | 2 China | 308,950,000,000 | 2023 | +5.82% | +5.85% | View data |
| 3 | 3 Russia | 88,312,000,000 | 2023 | +2.24% | +7.47% | View data |
| 4 | 4 India | 84,986,000,000 | 2023 | +4.45% | +5.1% | View data |
| 5 | 5 Saudi Arabia | 75,970,000,000 | 2023 | +1.28% | +0.36% | View data |
| 6 | 6 United Kingdom | 69,104,000,000 | 2023 | +0.94% | +4.36% | View data |
| 7 | 7 Germany | 56,375,000,000 | 2023 | +1.1% | +3.93% | View data |
| 8 | 8 France | 54,143,000,000 | 2023 | +0.94% | +1.04% | View data |
| 9 | 9 South Korea | 47,460,000,000 | 2023 | +2.36% | +1.96% | View data |
| 10 | 10 Japan | 46,338,000,000 | 2023 | +0.75% | -0.92% | View data |
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