The analysis of global military expenditures shows that Belarus (32.11%), Saudi Arabia (26.94%), and Oman (17.84%) were the highest spenders in terms of general government expenditure. Variations for the latest year suggest that Ethiopia saw a significant increase of 15.42%, while Iraq's expenditure decreased substantially by 16.24%. Notable variations include Togo with a 13.88% increase, Montenegro with 7.99%, and Hungary with 10.43% increments. On the contrary, Zimbabwe (-8.61%), Thailand (-6.41%), and Singapore (-7.61%) experienced marked declines.
Future trends to watch for in global military expenditure include the increasing allocation from Middle Eastern countries like Saudi Arabia and a continuing rise in countries facing regional instability such as Ethiopia. Additionally, continued investment growth is anticipated in nations modernizing their military capabilities and strategic defenses, while economic constraints might cause spending contractions in some regions.
Top countries in Military Expenditure by Country
| # | 10 Countries | Percent of General Government Expenditure | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belarus | 32.11 | 2023 | -0.025% | +0.55% | View data |
| 2 | 2 Saudi Arabia | 26.94 | 2023 | -3.05% | +0.76% | View data |
| 3 | 3 Oman | 17.84 | 2023 | +1.37% | -3.73% | View data |
| 4 | 4 Pakistan | 17.71 | 2023 | -1.01% | -1.51% | View data |
| 5 | 5 Chad | 17.66 | 2023 | +0.79% | +0.53% | View data |
| 6 | 6 Armenia | 16.58 | 2023 | +3.66% | -0.65% | View data |
| 7 | 7 Iran | 16.29 | 2023 | -5.93% | +3.2% | View data |
| 8 | 8 Togo | 15.14 | 2023 | -13.51% | +13.88% | View data |
| 9 | 9 Jordan | 14.95 | 2023 | -0.87% | -0.084% | View data |
| 10 | 10 Algeria | 14.6 | 2023 | +9.75% | +0.18% | View data |
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