Top 10 Countries with Highest Military Spending: India among top 5; where do China, Russia, US stand? Check List

Military spending by country: Did you know that the world’s largest military spender allocated 3.1 times more funds to defence than the country in the second spot? Global military expenditure continued its upward trend for the ninth consecutive year in 2023, reaching a total of $2,443 billion. This 6.8% increase in 2023 marked the sharpest year-on-year rise since 2009 and propelled global spending to its highest level ever recorded by SIPRI! The top five spenders collectively constituted 61% of world military spending! So which are the top 10 countries with highest military or defence spending in 2023? What was India’s defence budget for 2023 and where does it stand in the list? Let’s take a look:

United States of America or the US topped the list of countries with the highest military spending in 2023. US military expenditure in 2023 totalled $916 billion, marking a 2.3% increase from 2022 and a 9.9% increase from 2014. The United States continued to be the world's largest spender on defence, allocating 3.1 times more funds to the military than the second largest spender, China! (US navy photo by Mass Communication Specialist 3rd Class August Clawson)

China, the world's second-largest military spender, allocated approximately $296 billion to its military in 2023, marking a 6.0% increase from 2022. China's military spending represented 12% of global expenditure and 50% of spending in Asia and Oceania. China's military expenditure has experienced uninterrupted growth for 29 consecutive years, making it the longest such streak recorded in the SIPRI Military Expenditure Database. (AP photo)

Russia’s military expenditure reached an estimated $109 billion in 2023, marking a 24% increase from 2022 and a significant 57% surge from 2014. This expenditure constituted 5.9% of GDP and 16% of total government spending, representing the highest levels recorded by Russia since the dissolution of the Soviet Union. SIPRI has said that due to the escalating opacity of Russian financial authorities following the war with Ukraine in 2022, the precise figures for Russia's military spending in 2023 remain highly uncertain. (AP photo)

India bags the fourth spot in the list of top 10 countries with highest military spending in 2023. India’s defence expenditure reached $83.6 billion marking a 4.2% increase from 2022 and a notable 44% rise from 2014. According to SIPRI, the rise in India's military spending primarily stemmed from mounting personnel and operations costs, constituting nearly 80% of the total military budget in 2023. This reflects the government's emphasis on bolstering the operational preparedness of the armed forces, particularly amidst enduring tensions with both China and Pakistan, SIPRI said.

In 2023, Saudi Arabia ranked as the fifth largest global military spender. Its expenditure increased by 4.3% to approximately $75.8 billion, equivalent to 7.1% of GDP. As the world's leading exporter of crude oil, Saudi Arabia financed a portion of its increased military spending through heightened demand for non-Russian oil and the subsequent rise in oil prices prompted by Russia-Ukraine war. (AI image for representative purpose)

The United Kingdom retained its position as the top military spender in the Central and Western Europe subregion. Its expenditure reached $74.9 billion, representing a 7.9% increase from 2022 and a 14% increase from 2014. Military expenditure in Central and Western Europe amounted to $407 billion, marking a 10% increase from 2022 and a 43% rise from 2014. (Image source: MOD Crown)

Germany's military spending experienced its second consecutive yearly growth in 2023, reaching $66.8 billion. This marked a 9.0% increase from the previous year and a 48% rise over the decade from 2014 to 2023. (Image source: Bundeswehr/Christian Timmig)

Ukraine emerged as the world's eighth-largest military spender. Its military expenditure surged by 51%, reaching $64.8 billion, which accounted for 59% of Russia's military spending that year. Between 2014 and 2023, Ukrainian military expenditure skyrocketed by 1272%. During 2023, Ukraine received military aid from more than 30 countries, with major contributors including the USA, the UK, Germany, and other European Union (EU) member states. (Image source: X Handle of Ministry of Defense of Ukraine)

France secured the 9th position among the top 10 countries with the highest military expenditure in 2023. France's military spending amounted to $61.3 billion in 2023, marking a 6.5% increase compared to the previous year. (AFP photo)

In 2023, military spending in East Asia surged by 6.2%, reaching $411 billion. Japan dedicated $50.2 billion to its military, marking an 11% increase from 2022 and a 31% increase from 2014. This year-on-year rise in 2023 was the largest since 1972. Additionally, the 2023 budget represented the inception of Japan's most extensive military expansion initiative since the conclusion of World War II. (Image source: Japan Maritime photography)