World military expenditure soars

Global military spending rose to $2.72 trillion in 2024 –
up 9.4% on 2023, and the steepest year-on-year rise since
the end of the Cold War, according to a new think tank report

MILITARY EXPENDITURE, 1988-2024 (constant 2023 US$ billion)

1988 1992 1996 2000 2004 2008 2012 2016 2020 2024

3000
2500
2000
1500
1000
500
0

Africa
Mid-East
Asia/Oceania
Europe
Americas

1991: Absence of data for Soviet Union
means no total can be calculated

$2.72 trillion
Up 9.4%

FIVE BIGGEST SPENDERS IN 2024

Spending
($bn)

Spending
as share of
GDP (%)

12345

U.S.
China
Russia
Germany
India

997.0
314.0
149.0
88.5
86.1

3.4
1.7
7.1
1.9
2.3

Sources: Reuters, Stockholm International Peace
Research Institute (SIPRI). Picture: U.S. Army
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