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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.
6 2020–2023. 7 See also. ... This is a list of countries by past military expenditure, ... This page was last edited on 7 June 2024, ...
This list is sourced from the Stockholm International Peace Research Institute (SIPRI) for the year 2020. As of 2021, the top five per capita spenders are Qatar (~$3955), Israel (~$2770), United States (~$2405), Kuwait (~$2085) and Singapore (~$1885). All five countries have increased their spending since the previous year (2020).
The GMI 2023 covers 149 states and is widely used to study military economies of different countries and compare them. ... Military Expenditure ... on 14 May 2024, ...
Military budget of China, USSR, Russia and US in constant 2021 US$ 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.
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
In 2022, the Stockholm International Peace Research Institute estimated the China's military spending is $230 billion which accounted for 1.7% of the country total GDP. [22] A 2024 study by Taylor Fravel, George J. Gilboy, and Eric Heginbotham estimated China's total military spending for 2024 at US$471 billion. [23]
In general, spending is low, with an average of around 3% of government spending, in comparison with an average of about 6.4% globally. [1] In 2020, Russia and Belarus spent more on the military than any other European countries. However, this data precedes the Russian invasion of Ukraine, which caused military spending in Ukraine to skyrocket.