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The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies.
Figures for the tables below are provided by the Stockholm International Peace Research Institute (SIPRI) database. They are presented in millions of United States dollars in current prices, converted at the exchange rate for the given year. [1]
Rank Country Global Militarization Index (GMI) Military Expenditure Index Score People Index Score Heavy Weapons Index Score 1 Ukraine 335: 5.11: 1.29: 1.75
The US spends around 3.38% of GDP on defense, and European countries in eastern Europe closer to Russia spend a similar percentage, with Estonia spending 3.43% and Latvia 3.15%.
The United States has long had the world’s biggest defense budget, with spending this year set to approach $900 billion. ... interest expenses in 2024 are running 41% higher than in 2023.
The UAE, for which recent data is not available, has also spent historically large amounts of money on the military on a per capita basis. The UAE had a per capita spending of $2470 per person back in 2014, making it the second highest spender in that year just after Saudi Arabia, [ 1 ] but by 2020 that number had fallen to $2204.
The share of total expenditure, the average defence spending was 2.5 % in 2021 in the EU and 2.4% in the euro area. As a share of GDP the average was 1.3% in the EU and in the euro area. [1] Total defence expenditure of the European Defence Agency (EDA) Member States was €279 billion in 2023, which was 1.6% of the 27 EDA Member States’ GDP. [2]
Russia's parliament approved a federal budget Wednesday that increases spending by around 25% in 2024-2026 and devotes a record amount to defense. The budget was passed unanimously by the ...