Military spending is a significant aspect of how governments manage their budgets. It demonstrates how they prioritise defence, security, and global influence. Global military spending hit an all-time high in 2023, driven by rising tensions, continuous conflicts, and technological developments. Here are the top ten countries with the largest defence budgets, according to statistics from the SIPRI Military Expenditure Database and the 2024 edition of The Military Balance by the International Institute for Strategic Studies (IISS).
10. Japan Japan spent $50.2 billion on defence in 2023, accounting for 1.2% of its GDP and 2.1% of global military spending.
9. France France will spend $61.3 billion on defence in 2023, representing for 2.1% of its GDP and 2.5% of global military spending.
8. Ukraine Ukraine spent $64.8 billion on defence in 2023, accounting for 37% of its GDP and 2.7% of worldwide spending.
7. Deutschland Germany’s defence spending in 2023 was $66.8 billion, approximately 1.5% of GDP and 2.7% of worldwide military spending.
6. United Kingdom In 2023, the United Kingdom allocated $74.9 billion to defence, accounting for 2.3% of GDP and 3.1% of global spending.
5. Saudi Arabia. Saudi Arabia spent $75.8 billion on defence in 2023, accounting for 7.1% of its GDP and 3.1% of worldwide spending.
4. India India spent $83.6 billion on defence in 2023, accounting for 2.4% of its GDP and 3.4% of global military spending.
3. Russia Russia’s defence spending in 2023 was $130 billion, or 6.3% of its GDP and 4.5% of global military spending.
2. China China spent $296 billion on its military in 2023, accounting for 1.7% of GDP and 12% of worldwide spending.
1. United States. With $916 billion in military spending projected for 2023, the United States tops the world. This represents 3.4% of its GDP and 37% of global military spending.
