20 Years of Global Military Spending

What We’re Showing

Military expenditures between 2003 and 2023 of selected countries. This data comes from the Stockholm International Peace Research Institute (SIPRI), as of September 2024.

Key Takeaways

• China's military expenditure has surged from $33.1 billion in 2003 to $296.4 billion in 2023, marking a growth of approximately 795%.
• Russia's military expenditure increased from $17 billion in 2003, during Vladimir Putin's first presidential term, to $109.5 billion in 2023, reflecting a growth of around 544%.
• The two largest spenders, the U.S. and China, accounted for approximately half of global military spending in 2023.