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.
