East Asia joins global military spending surge over China concerns: report (2024)

FAQs

Where does China rank in military spending? ›

Countries with the highest military spending 2023

China was the second largest military spender with an estimated 296 billion U.S. dollars spent, with Russia following in third. According to the U.S. Congressional Budget Office, the outlays for defense will rise to 1.1 trillion U.S. dollars by 2033.

The 10 largest spenders in 2023—led by the United States, China and Russia—all increased their military spending, according to new data on global military spending published today by the Stockholm International Peace Research Institute (SIPRI), available at www.sipri.org.

In 2023, the government of Brazil spent more than 21.18 billion U.S. dollars in the military sector. Since 2013, the highest military budget was registered in 2018, when over 25 billion dollars were destined to this end. Brazil ranks first in the annual value of military expenditure in Latin America.

In 2024, the government of Israel allocated about 118 billion shekels (about 30.5 billion U.S. dollars) to its military budget. This represented a sharp increase of over 87 percent in comparison to the previous budget.

The United States has the highest military spending of any nation. Its military spending includes all of the Department of Defense's regular activities, war spending, the nuclear weapon program, international military assistance, and other Pentagon-related spending.

In February, NATO Secretary-General Jens Stoltenberg said: “In 2024, NATO allies in Europe will invest a combined total of $380bn in defence. For the first time, this amounts to 2 percent of their combined GDP.” The United States remains the world's largest military spender by far.

The United States Spends More on Defense than the Next 9 Countries Combined. Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023, according to recently released figures from the Stockholm International Peace Research Institute (SIPRI).

In 2023, the Mexican government spent around 9.91 billion U.S. dollars in the military sector. This represents a decrease compared to the 10.07 billion dollars peak of military expenditure registered in 2022.

How much money does Cuba spend on the military? ›

Portugal military spending/defense budget for 2022 was $3.50B, a 10.17% decline from 2021. Portugal military spending/defense budget for 2021 was $3.90B, a 19.24% increase from 2020. Portugal military spending/defense budget for 2020 was $3.27B, a 0.95% decline from 2019.

Modern Equipment: The IDF's arsenal includes modern tanks, aircraft, naval vessels, and advanced weaponry, making it one of the most technologically equipped forces in the region​​. Battle Experience: Israel's military has extensive combat experience, contributing to its high operational readiness and effectiveness​.

In turn, Israel provides a strategic American foothold in the region as well as intelligence and advanced technological partnerships in both the civilian and military worlds. During the Cold War, Israel was a vital counterweight to Soviet influence in the region.

Israel is one of the most resilient and technologically-advanced market economies in the world. Its skilled workforce and concentration of venture capital allow the country to lead in innovative industries such as high-tech, cleantech, and the life sciences.

The Global Firepower Index, 2023, puts the US at the top, Russia at the second spot, China at No. 3, and India at No. 4.

The American military is by far the most powerful in the entire world. The nation boasts one of the most formidable militaries in the world, with a military budget of more than $600 billion.

The U.S. military budget is by far the highest of any country in the world. How much higher is the U.S. military budget than that of China, the world's second biggest military spender? The U.S. military budget is 7 times higher than that of China, the world's second biggest military spender.