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The second list is based on the 2024 edition of The Military Balance, published by the International Institute for Strategic Studies (IISS) using average market exchange rates. [2] The third list is a user-generated list of the highest military budgets of the current year, compiled from various sources.
Military expenditure of the world from 1950 to 2022 in constant 2021 US$ billions. This is a list of countries by past military expenditure, ... Military budget;
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 five biggest spenders in 2020, which together accounted for 62% of military spending worldwide, were the United States, China, India, Russia and Britain in that order. "We can say with some ...
Still, others maintain military expenditure is a drag on development. [3] Among the countries maintaining some of the world's largest military budgets, China, India, France, Germany, Japan, Russia, the United Kingdom and the United States are frequently recognized to be great powers. [4]
China is the world’s second largest military spender, allocating $293 billion for its national defense in 2022, up 4.7% from the year before–but it’s still just a fraction of the U.S budget.
Rank Country Global Militarization Index (GMI) Military Expenditure Index Score People Index Score Heavy Weapons Index Score 1 Ukraine 335: 5.11: 1.29: 1.75
Military budget of China, USSR, Russia and US in constant 2021 US$ billions Military spending as a percent of federal government revenue. The military budget of the United States is the largest portion of the discretionary federal budget allocated to the Department of Defense (DoD), or more broadly, the portion of the budget that goes to any military-related expenditures.