US leads, China and Russia follow
The United States remains the world’s largest military spender, allocating a staggering $916 billion in 2023. China, which has significantly increased its defence capabilities in recent years, follows at $296 billion, while Russia—heavily engaged in the Ukraine conflict—spent $109 billion.
India, maintaining its position as a key regional power, allocated $83.6 billion, placing it fourth among the world’s top military spenders. Saudi Arabia ($75.8 billion) and the United Kingdom ($74.9 billion) also made it to the list, reflecting their strategic defence priorities.
Top 10 military spenders in 2023 (in $ billion)
– United States – 916
– China – 296
– Russia – 109
– India – 83.6
– Saudi Arabia – 75.8
– United Kingdom – 74.9
– Ukraine – 64.8
– Germany – 66.8
– France – 61.3
– Japan – 50.2
Military spending as a share of GDP
Ukraine, embroiled in a prolonged war, allocated a massive 37% of its GDP to military expenses, the highest among all nations. Saudi Arabia (7.1%) and Russia (5.9%) also dedicated a significant share of their economies to defence.
For major powers, military spending as a share of GDP stood at:
– United States – 3.4%
– China – 1.7%
– Russia – 5.9%
– India – 2.4%
– United Kingdom – 2.3%
– France – 2.1%
– Germany – 1.5%
– Japan – 1.2%
Defence budgets surge amid global uncertainty
Military expenditure has steadily risen over the years, with global spending accounting for 2.3% of the world’s GDP in 2023, according to the Stockholm International Peace Research Institute (SIPRI).
From just under $1 trillion in 2000, global military spending has more than doubled over two decades, reflecting the increased militarisation of world powers.
First Published: Mar 10, 2025 10:10 AM IST
