Countries That Spend A Huge Share of Their Economy on Military Expenses

Global tensions continue to rise, from the ongoing war in Ukraine that continues to stretch on well into its second year, to the conflict between Israel and Hamas in the Gaza Strip. These brutal conflicts continue to take a toll on life, both civilian and military. According to the Ukraine United Nations, the ongoing war has seen the Ukrainian civilian death toll reach at least 10,000, with an additional 18,500 injured. Military deaths are even higher. Per the New York Times, as of August 2023, nearly half a million casualties have been sustained by both sides in the conflict. In addition to the lives lost, the war has cost a tremendous amount of money: to Russia, to the nations supporting the defense of the country, and of course to Ukraine itself. 

The Ukraine’s military expenditure jumped to an incredible $44 billion in 2023. That number incredibly represents a third of the country’s GDP. For comparison, the country spent $3.2 billion in 2017, or 2.9% of the nation’s GDP. Because of this sharp increase, Ukraine is by far the country with the highest military expenditure as a percentage of its total output of goods and services. (See if Ukraine is on this list of nations importing the most weapons and their biggest suppliers.)

24/7 Wall St. identified the countries that spent a large portion of their economy on military expenses by using data from the Stockholm International Peace Research Institute’s Military Expenditure Database.  Military spending figures are expressed in current U.S. dollars. Population estimates for 2023 come from the CIA World Factbook. GDP per capita figures come from the World Bank and are for 2022. SIPRI notes that some values are estimates, including the spending as a percent of GDP in Ukraine and all the spending figures for China, Russia, and Saudi Arabia, among others. 

Military expenditure rose by nearly 4% across the globe, in real terms in 2022, according to SIPRI, to a record $2.24 trillion, with Russia’s invasion of Ukraine a major contributor to this increase. “Spending increases in parts of Asia and Oceania also contributed to the global growth in 2022,” wrote SIPRI in its 2022 report. Israel comes in at number ten on the list, having spent 4.5% of its GDP in 2022, and according to the Finance Ministry, they may increase it by eight billion dollars by 2024. 

Of the countries listed below, Saudi Arabia comes in second place as it builds up its defense arsenal and continues to lead a coalition in the brutal eight-year-old conflict in neighboring Yemen. The Saudis spent $75 billion on their military in 2022, representing 7.4% of the kingdom’s GDP. By comparison, the United States is ranked 15th on this list, having spent 3.5% of its GDP, or $877 billion, in 2022. (Here is how the world’s top military spenders compare to the U.S.)

Excluding the United States, which is an outlier in how much it spends on defense, these countries spent a total of $314.1 billion on their militaries last year. The median share of military expenditure as a percentage of GDP among these countries was 3.9% in 2022. A significant portion of the list includes lower-income countries, including several African nations with GDPs per capita of less than $1,000 and several other nations with GDPs per capita of less than $10,000.

Here are countries that spent a large portion of their economy on military expenses

25. Burundi

• Military expenditure as a pct. of GDP, 2022: 2.8%
• Military expenditure, 2022: $101.4 million (#127 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 2.0% (#138 highest out of 152)
• Military expenditure, 2017: $63.9 million (#138 highest out of 155)
• GDP per capita, 2021 $221 (#203 highest out of 203)
• Population, 2023: 13.2 million (#77 largest out of 237)
• Region: Africa

24. Singapore

• Military expenditure as a pct. of GDP, 2022: 2.8%
• Military expenditure, 2022: $11.7 billion (#22 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.0% (#21 highest out of 152)
• Military expenditure, 2017: $10.2 billion (#21 highest out of 155)
• GDP per capita, 2021 $72,794 (#8 highest out of 203)
• Population, 2023: 6.0 million (#113 largest out of 237)
• Region: East and Southeast Asia

23. Mali

• Military expenditure as a pct. of GDP, 2022: 2.8%
• Military expenditure, 2022: $515.1 million (#89 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.0% (#88 highest out of 152)
• Military expenditure, 2017: $460.2 million (#88 highest out of 155)
• GDP per capita, 2021 $874 (#187 highest out of 203)
• Population, 2023: 21.4 million (#61 largest out of 237)
• Region: Africa

22. Chad

• Military expenditure as a pct. of GDP, 2022: 2.9%
• Military expenditure, 2022: $357.4 million (#105 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 2.2% (#109 highest out of 152)
• Military expenditure, 2017: $219.1 million (#109 highest out of 155)
• GDP per capita, 2021 $686 (#192 highest out of 203)
• Population, 2023: 18.5 million (#66 largest out of 237)
• Region: Africa

21. Namibia

• Military expenditure as a pct. of GDP, 2022: 3.0%
• Military expenditure, 2022: $369.1 million (#102 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.5% (#90 highest out of 152)
• Military expenditure, 2017: $456.1 million (#90 highest out of 155)
• GDP per capita, 2021 $4,866 (#121 highest out of 203)
• Population, 2023: 2.8 million (#141 largest out of 237)
• Region: Africa

20. South Sudan

• Military expenditure as a pct. of GDP, 2022: 3.0%
• Military expenditure, 2022: $378.8 million (#100 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 2.1% (#134 highest out of 152)
• Military expenditure, 2017: $72.4 million (#134 highest out of 155)
• GDP per capita, 2021 Not available
• Population, 2023: 12.1 million (#80 largest out of 237)
• Region: Africa

19. Myanmar

• Military expenditure as a pct. of GDP, 2022: 3.0%
• Military expenditure, 2022: $1.9 billion (#62 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.6% (#57 highest out of 152)
• Military expenditure, 2017: $2.2 billion (#57 highest out of 155)
• GDP per capita, 2021 $1,210 (#176 highest out of 203)
• Population, 2023: 58.0 million (#26 largest out of 237)
• Region: East and Southeast Asia

18. Colombia

• Military expenditure as a pct. of GDP, 2022: 3.1%
• Military expenditure, 2022: $9.9 billion (#25 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.2% (#23 highest out of 152)
• Military expenditure, 2017: $10.0 billion (#23 highest out of 155)
• GDP per capita, 2021 $6,104 (#108 highest out of 203)
• Population, 2023: 49.3 million (#29 largest out of 237)
• Region: South America

17. Burkina Faso

• Military expenditure as a pct. of GDP, 2022: 3.1%
• Military expenditure, 2022: $562.6 million (#88 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 1.4% (#113 highest out of 152)
• Military expenditure, 2017: $191.1 million (#113 highest out of 155)
• GDP per capita, 2021 $893 (#185 highest out of 203)
• Population, 2023: 22.5 million (#60 largest out of 237)
• Region: Africa

16. Bahrain

• Military expenditure as a pct. of GDP, 2022: 3.2%
• Military expenditure, 2022: $1.4 billion (#66 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 4.3% (#65 highest out of 152)
• Military expenditure, 2017: $1.5 billion (#65 highest out of 155)
• GDP per capita, 2021 $26,563 (#46 highest out of 203)
• Population, 2023: 1.6 million (#155 largest out of 237)
• Region: Middle East

15. United States

• Military expenditure as a pct. of GDP, 2022: 3.5%
• Military expenditure, 2022: $876.9 billion (#1 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.3% (#1 highest out of 152)
• Military expenditure, 2017: $646.8 billion (#1 highest out of 155)
• GDP per capita, 2021 $70,249 (#9 highest out of 203)
• Population, 2023: 339.7 million (#3 largest out of 237)
• Region: North America

14. Greece

• Military expenditure as a pct. of GDP, 2022: 3.7%
• Military expenditure, 2022: $8.1 billion (#31 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 2.6% (#35 highest out of 152)
• Military expenditure, 2017: $5.1 billion (#35 highest out of 155)
• GDP per capita, 2021 $20,193 (#53 highest out of 203)
• Population, 2023: 10.5 million (#89 largest out of 237)
• Region: Europe

13. Morocco

• Military expenditure as a pct. of GDP, 2022: 3.9%
• Military expenditure, 2022: $5.0 billion (#41 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.2% (#46 highest out of 152)
• Military expenditure, 2017: $3.5 billion (#46 highest out of 155)
• GDP per capita, 2021 $3,795 (#136 highest out of 203)
• Population, 2023: 37.1 million (#40 largest out of 237)
• Region: Africa

12. Russia

• Military expenditure as a pct. of GDP, 2022: 4.1%
• Military expenditure, 2022: $86.4 billion (#3 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 4.2% (#4 highest out of 152)
• Military expenditure, 2017: $66.9 billion (#4 highest out of 155)
• GDP per capita, 2021 $12,195 (#74 highest out of 203)
• Population, 2023: 141.7 million (#9 largest out of 237)
• Region: Central Asia

11. Armenia

• Military expenditure as a pct. of GDP, 2022: 4.3%
• Military expenditure, 2022: $795.2 million (#81 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.8% (#91 highest out of 152)
• Military expenditure, 2017: $443.6 million (#91 highest out of 155)
• GDP per capita, 2021 $4,967 (#119 highest out of 203)
• Population, 2023: 3.0 million (#139 largest out of 237)
• Region: Middle East

10. Israel

• Military expenditure as a pct. of GDP, 2022: 4.5%
• Military expenditure, 2022: $23.4 billion (#15 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 5.4% (#15 highest out of 152)
• Military expenditure, 2017: $19.4 billion (#15 highest out of 155)
• GDP per capita, 2021 $52,171 (#19 highest out of 203)
• Population, 2023: 9.0 million (#98 largest out of 237)
• Region: Middle East

9. Kuwait

• Military expenditure as a pct. of GDP, 2022: 4.5%
• Military expenditure, 2022: $8.2 billion (#30 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 5.6% (#30 highest out of 152)
• Military expenditure, 2017: $6.8 billion (#30 highest out of 155)
• GDP per capita, 2021 Not available
• Population, 2023: 3.1 million (#135 largest out of 237)
• Region: Middle East

8. Azerbaijan

• Military expenditure as a pct. of GDP, 2022: 4.5%
• Military expenditure, 2022: $3.0 billion (#54 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 3.8% (#66 highest out of 152)
• Military expenditure, 2017: $1.5 billion (#66 highest out of 155)
• GDP per capita, 2021 $5,388 (#113 highest out of 203)
• Population, 2023: 10.4 million (#90 largest out of 237)
• Region: Middle East

7. Algeria

• Military expenditure as a pct. of GDP, 2022: 4.8%
• Military expenditure, 2022: $9.1 billion (#26 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 5.9% (#22 highest out of 152)
• Military expenditure, 2017: $10.1 billion (#22 highest out of 155)
• GDP per capita, 2021 $3,691 (#139 highest out of 203)
• Population, 2023: 44.8 million (#34 largest out of 237)
• Region: Africa

6. Jordan

• Military expenditure as a pct. of GDP, 2022: 4.8%
• Military expenditure, 2022: $2.3 billion (#60 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 4.7% (#61 highest out of 152)
• Military expenditure, 2017: $1.9 billion (#61 highest out of 155)
• GDP per capita, 2021 $4,103 (#130 highest out of 203)
• Population, 2023: 11.1 million (#84 largest out of 237)
• Region: Middle East

5. Oman

• Military expenditure as a pct. of GDP, 2022: 5.2%
• Military expenditure, 2022: $5.8 billion (#36 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 8.4% (#29 highest out of 152)
• Military expenditure, 2017: $6.8 billion (#29 highest out of 155)
• GDP per capita, 2021 $19,509 (#55 highest out of 203)
• Population, 2023: 3.8 million (#130 largest out of 237)
• Region: Middle East

4. Togo

• Military expenditure as a pct. of GDP, 2022: 5.4%
• Military expenditure, 2022: $336.6 million (#106 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 1.9% (#127 highest out of 152)
• Military expenditure, 2017: $88.4 million (#127 highest out of 155)
• GDP per capita, 2021 $973 (#182 highest out of 203)
• Population, 2023: 8.7 million (#101 largest out of 237)
• Region: Africa

3. Qatar

• Military expenditure as a pct. of GDP, 2022: 7.0%
• Military expenditure, 2022: $15.4 billion (#20 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 0.0% (#0 highest out of 152)
• Military expenditure, 2017: (#0 highest out of 155)
• GDP per capita, 2021 $66,838 (#13 highest out of 203)
• Population, 2023: 2.5 million (#143 largest out of 237)
• Region: Middle East

2. Saudi Arabia

• Military expenditure as a pct. of GDP, 2022: 7.4%
• Military expenditure, 2022: $75.0 billion (#5 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 10.2% (#3 highest out of 152)
• Military expenditure, 2017: $70.4 billion (#3 highest out of 155)
• GDP per capita, 2021 $23,186 (#49 highest out of 203)
• Population, 2023: 35.9 million (#42 largest out of 237)
• Region: Middle East

1. Ukraine

• Military expenditure as a pct. of GDP, 2022: 33.5%
• Military expenditure, 2022: $44.0 billion (#11 highest out of 152)
• Military expenditure as a pct. of GDP, 2017: 2.9% (#49 highest out of 152)
• Military expenditure, 2017: $3.2 billion (#49 highest out of 155)
• GDP per capita, 2021 $4,836 (#122 highest out of 203)
• Population, 2023: 43.3 million (#35 largest out of 237)
• Region: Europe

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