Top 10 Countries with Highest Military Expense 2023-24
Top 10: List of Countries with Highest Military Expense [Updated 2024]
In today’s world, how much a country spends on its military is a big deal. It tells us a lot about the focus and strength of that country. Referring to data from 2020, countries around the world spent a huge $1981 billion on their military. This was the highest military spending since 1988. Given the fact that the economy was struggling because of Covid-19, countries kept spending a lot on their defense.
In this article, we will look at the top 10 countries spending most on their military. We will also compare this expense and understand how this spending fits into their whole economy. Analyzing the facts like USA’s huge defense budget, China’s growing military spending, and why India is spending more on its army.
Table of Content
- Top 10 Countries with Highest Military Expense 2023-24
- 1. America
- 2. China
- 3. India
- 4. Russia and more..
- Top 10 countries spending most on Military
- Military Expected Expense Budget for 2024
Based on Latest report by Statista –
In 2022, the world spent a massive $2.2 trillion on the military. The US topped the list with $877 billion, making up almost 40% of global spending. China was next with $292 billion, and Russia was third in this line. Factors like the Russia-Ukraine conflict fueled this increase in military expenses.
Let’s understand the detailed military spending of each country, looking at how much they spend and why. This will help provide better understanding of questions like how military money affects the world, how countries get along with each other, and what these countries are planning for the future. Let’s dive in and see where countries are putting their money when it comes to defense.
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