Special Report

The 40 Countries With the Highest Military Expenditure

javarman3 / iStock via Getty Images

For the seventh year in a row, global military spending increased in In 2021, exceeding $2 trillion for the first time. This information comes from the Stockholm International Peace Research Institute, or SIPRI, independent military and armament research institute. 

While nearly every country allocates some money to defense, only a few dozen, relatively wealthy nations account for the vast majority of military spending. Here is a look at the countries with the strongest militaries

Using data from SIPRI, 24/7 Wall St. identified the countries with the highest military spending. Countries are ranked based on military spending in 2021 (expressed in 2020 U.S. dollars). Combined, the 40 countries on this list accounted for about 93% of global military expenditures, and the top five countries alone accounted for an estimated 62%. 

The 2021 uptick in global military spending is the continuation of a longer-term trend, as military spending has climbed every year since 2015. Countries that have increased their spending the most last year include Finland, Sweden, Iran, Belgium, and Japan. 

Notably, the United States is among the minority of countries on this list where military spending fell in 2021. However, the decline in real spending in the U.S. was due entirely to inflation. In nominal terms, America’s military budget actually climbed by nearly 3% from 2020 to 2021. 

The U.S. military budget remains the largest in the world by a wide margin, accounting for an estimated 38% of global spending. Over the last 10 years, the U.S. has sharply increased investments in military research and development, while reducing procurement spending. The shift suggests a strategy that relies more on new technologies than on investment in legacy systems. Here is a look at 12 new weapons the U.S. is adding to its arsenal

All data in this report, including changes in military spending and military spending as a share of gross domestic product is from SIPRI. These are the countries spending the most on their military.

Click here to see 40 countries spending the most on war

karenfoleyphotography / iStock via Getty Images

40. Romania
> Military expenditure in 2021: $5.6 billion
> 1-yr. change in military spending: +3.1%
> 10-yr. change in military spending: +161.0%
> Military spending as a share of GDP in 2021: 2.0%

[in-text-ad]

AleksandarGeorgiev / E+ via Getty Images

39. Switzerland
> Military expenditure in 2021: $5.7 billion
> 1-yr. change in military spending: -13.0%
> 10-yr. change in military spending: +22.0%
> Military spending as a share of GDP in 2021: 0.7%

Lukas Bischoff / iStock via Getty Images

38. Oman
> Military expenditure in 2021: $5.8 billion (estimated)
> 1-yr. change in military spending: -9.6%
> 10-yr. change in military spending: -43.0%
> Military spending as a share of GDP in 2021: 7.3%

scanrail / iStock via Getty Images

37. Finland
> Military expenditure in 2021: $5.9 billion
> 1-yr. change in military spending: +36.0%
> 10-yr. change in military spending: +50.0%
> Military spending as a share of GDP in 2021: 2.0%

[in-text-ad-2]

Joel Carillet / iStock Unreleased via Getty Images

36. Ukraine
> Military expenditure in 2021: $5.9 billion (estimated)
> 1-yr. change in military spending: -8.5%
> 10-yr. change in military spending: +142.0%
> Military spending as a share of GDP in 2021: 3.2%

diegograndi / iStock via Getty Images

35. Chile
> Military expenditure in 2021: $6.2 billion
> 1-yr. change in military spending: +8.6%
> 10-yr. change in military spending: +34.0%
> Military spending as a share of GDP in 2021: 2.0%

[in-text-ad]

MarioGuti / iStock via Getty Images

34. Belgium
> Military expenditure in 2021: $6.3 billion
> 1-yr. change in military spending: +9.2%
> 10-yr. change in military spending: +17.0%
> Military spending as a share of GDP in 2021: 1.1%

tawanlubfah / iStock via Getty Images

33. Thailand
> Military expenditure in 2021: $6.6 billion
> 1-yr. change in military spending: -8.5%
> 10-yr. change in military spending: +16.0%
> Military spending as a share of GDP in 2021: 1.3%

scanrail / iStock via Getty Images

32. Sweden
> Military expenditure in 2021: $7.9 billion
> 1-yr. change in military spending: +14.0%
> 10-yr. change in military spending: +46.0%
> Military spending as a share of GDP in 2021: 1.3%

[in-text-ad-2]

Grafissimo / E+ via Getty Images

31. Greece
> Military expenditure in 2021: $8.1 billion
> 1-yr. change in military spending: +46.0%
> 10-yr. change in military spending: +54.0%
> Military spending as a share of GDP in 2021: 3.9%

Ekely / iStock via Getty Images

30. Norway
> Military expenditure in 2021: $8.3 billion
> 1-yr. change in military spending: +0.8%
> 10-yr. change in military spending: +39.0%
> Military spending as a share of GDP in 2021: 1.8%

[in-text-ad]

nala_rinaldo / RooM via Getty Images

29. Indonesia
> Military expenditure in 2021: $8.3 billion
> 1-yr. change in military spending: -15.0%
> 10-yr. change in military spending: +35.0%
> Military spending as a share of GDP in 2021: 0.7%

ferrantraite / E+ via Getty Images

28. Mexico
> Military expenditure in 2021: $8.7 billion
> 1-yr. change in military spending: -3.4%
> 10-yr. change in military spending: +63.0%
> Military spending as a share of GDP in 2021: 0.7%

Lukas Bischoff / iStock via Getty Images

27. Kuwait
> Military expenditure in 2021: $9.0 billion
> 1-yr. change in military spending: +25.0%
> 10-yr. change in military spending: +34.0%
> Military spending as a share of GDP in 2021: 6.7%

[in-text-ad-2]

muha04 / Getty Images

26. Algeria
> Military expenditure in 2021: $9.1 billion
> 1-yr. change in military spending: -6.1%
> 10-yr. change in military spending: +16.0%
> Military spending as a share of GDP in 2021: 5.6%

ToniFlap / iStock via Getty Images

25. Colombia
> Military expenditure in 2021: $10.2 billion
> 1-yr. change in military spending: +4.7%
> 10-yr. change in military spending: +30.0%
> Military spending as a share of GDP in 2021: 3.4%

[in-text-ad]

TommL / E+ via Getty Images

24. Singapore
> Military expenditure in 2021: $11.1 billion
> 1-yr. change in military spending: +7.1%
> 10-yr. change in military spending: +24.0%
> Military spending as a share of GDP in 2021: 3.0%

HomoCosmicos / iStock via Getty Images

23. Pakistan
> Military expenditure in 2021: $11.3 billion
> 1-yr. change in military spending: -0.7%
> 10-yr. change in military spending: +47.0%
> Military spending as a share of GDP in 2021: 3.8%

SHansche / iStock via Getty Images

22. Qatar
> Military expenditure in 2021: $11.6 billion
> 1-yr. change in military spending: +%
> 10-yr. change in military spending: +%
> Military spending as a share of GDP in 2021: 4.8%

[in-text-ad-2]

StockByM / iStock via Getty Images

21. Taiwan
> Military expenditure in 2021: $13.0 billion
> 1-yr. change in military spending: +1.4%
> 10-yr. change in military spending: +7.9%
> Military spending as a share of GDP in 2021: 1.7%

TomasSereda / iStock via Getty Images

20. Poland
> Military expenditure in 2021: $13.7 billion
> 1-yr. change in military spending: -5.2%
> 10-yr. change in military spending: +58.0%
> Military spending as a share of GDP in 2021: 2.1%

[in-text-ad]

mihaiulia / iStock via Getty Images

19. Netherlands
> Military expenditure in 2021: $13.8 billion
> 1-yr. change in military spending: -0.5%
> 10-yr. change in military spending: +26.0%
> Military spending as a share of GDP in 2021: 1.4%

Seqoya / iStock via Getty Images

18. Turkey
> Military expenditure in 2021: $15.5 billion
> 1-yr. change in military spending: -4.4%
> 10-yr. change in military spending: +63.0%
> Military spending as a share of GDP in 2021: 2.1%

microgen / iStock via Getty Images

17. Brazil
> Military expenditure in 2021: $19.2 billion
> 1-yr. change in military spending: -4.3%
> 10-yr. change in military spending: -5.3%
> Military spending as a share of GDP in 2021: 1.2%

[in-text-ad-2]

Eloi_Omella / E+ via Getty Images

16. Spain
> Military expenditure in 2021: $19.5 billion
> 1-yr. change in military spending: +5.6%
> 10-yr. change in military spending: +5.2%
> Military spending as a share of GDP in 2021: 1.4%

RudyBalasko / iStock via Getty Images

15. Israel
> Military expenditure in 2021: $24.3 billion
> 1-yr. change in military spending: +3.1%
> 10-yr. change in military spending: +35.0%
> Military spending as a share of GDP in 2021: 5.2%

[in-text-ad]

Lukas Bischoff / iStock via Getty Images

14. Iran
> Military expenditure in 2021: $24.6 billion
> 1-yr. change in military spending: +11.0%
> 10-yr. change in military spending: -17.0%
> Military spending as a share of GDP in 2021: 2.3%

bukharova / iStock via Getty Images

13. Canada
> Military expenditure in 2021: $26.4 billion
> 1-yr. change in military spending: +3.1%
> 10-yr. change in military spending: +40.0%
> Military spending as a share of GDP in 2021: 1.3%

africanpix / iStock via Getty Images

12. Australia
> Military expenditure in 2021: $31.8 billion
> 1-yr. change in military spending: +4.0%
> 10-yr. change in military spending: +42.0%
> Military spending as a share of GDP in 2021: 2.0%

[in-text-ad-2]

MasterLu / iStock via Getty Images

11. Italy
> Military expenditure in 2021: $32.0 billion
> 1-yr. change in military spending: +4.6%
> 10-yr. change in military spending: +9.8%
> Military spending as a share of GDP in 2021: 1.5%

SeanPavonePhoto / iStock via Getty Images

10. South Korea
> Military expenditure in 2021: $50.2 billion
> 1-yr. change in military spending: +4.7%
> 10-yr. change in military spending: +43.0%
> Military spending as a share of GDP in 2021: 2.8%

[in-text-ad]

tawatchaiprakobkit / iStock via Getty Images

9. Japan
> Military expenditure in 2021: $54.1 billion
> 1-yr. change in military spending: +7.3%
> 10-yr. change in military spending: +18.0%
> Military spending as a share of GDP in 2021: 1.1%

MOHAMED HUSSAIN YOUNIS / iStock via Getty Images

8. Saudi Arabia
> Military expenditure in 2021: $55.6 billion (estimated)
> 1-yr. change in military spending: -17.0%
> 10-yr. change in military spending: -15.0%
> Military spending as a share of GDP in 2021: 6.6%

neirfy / iStock via Getty Images

7. Germany
> Military expenditure in 2021: $56.0 billion
> 1-yr. change in military spending: -1.4%
> 10-yr. change in military spending: +24.0%
> Military spending as a share of GDP in 2021: 1.3%

[in-text-ad-2]

aristotoo / E+ via Getty Images

6. France
> Military expenditure in 2021: $56.6 billion
> 1-yr. change in military spending: +1.5%
> 10-yr. change in military spending: +13.0%
> Military spending as a share of GDP in 2021: 1.9%

5. Russia
> Military expenditure in 2021: $65.9 billion
> 1-yr. change in military spending: +2.9%
> 10-yr. change in military spending: +11.0%
> Military spending as a share of GDP in 2021: 4.1%

[in-text-ad]

Vladislav Zolotov / iStock via Getty Images

4. United Kingdom
> Military expenditure in 2021: $68.4 billion
> 1-yr. change in military spending: +3.0%
> 10-yr. change in military spending: +3.7%
> Military spending as a share of GDP in 2021: 2.2%

hadynyah / E+ via Getty Images

3. India
> Military expenditure in 2021: $76.6 billion
> 1-yr. change in military spending: +0.9%
> 10-yr. change in military spending: +33.0%
> Military spending as a share of GDP in 2021: 2.7%

XIUYUAN YAO / iStock via Getty Images

2. China
> Military expenditure in 2021: $293.0 billion (estimated)
> 1-yr. change in military spending: +4.7%
> 10-yr. change in military spending: +72.0%
> Military spending as a share of GDP in 2021: 1.7%

[in-text-ad-2]

Matt Anderson / iStock via Getty Images

1. United States
> Military expenditure in 2021: $801.0 billion
> 1-yr. change in military spending: -1.4%
> 10-yr. change in military spending: -6.1%
> Military spending as a share of GDP in 2021: 3.5%

Get Ready To Retire (Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Get started right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.