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Global ranking · 48 economies · World Bank data

Military Spending by Country 2026

Military Spending by Country 2026: 48 economies ranked by military spending (% of GDP), with nominal & PPP figures, 10-year trends, regional breakdowns, charts and a downloadable dataset. Ukraine leads at 34.5%; Sweden ranks 20th of 48 at 2.0% (2024). Source: World Bank. Free to cite.

By Affärslivet Research · Published 2026-07-01 · Updated 2026-07-08 · Version 1.1 · CC BY 4.0

34.5%Highest (Ukraine)World Bank, 2024
20thSweden's rankof 48 economies
2.0%Swedenmilitary spending (% of GDP), 2024
1.9%European Unionreference
2.6%OECDreference
2.5%Worldreference

Executive summary

This index ranks 48 of the world's largest economies by military spending (% of GDP), using World Bank Open Data for cross-country comparability, and goes beyond a single snapshot: it shows the nominal figure, a ten-year history, a regional breakdown and the biggest movers. Ukraine leads at 34.5% (2024); Ireland is lowest among those ranked at 0.2%. Sweden ranks 20th of 48 at 2.0% (2024). As reference points, the EU stands at 1.9%, the OECD at 2.6% and the world at 2.5%. Every figure carries its World Bank series and reference year, and the complete dataset is free to download as CSV and JSON under a CC BY 4.0 licence.

Key findings

0134.5%of 48 economies

Ukraine tops the ranking

Ukraine has the highest military spending (% of GDP) among the 48 economies in this index at 34.5% (2024).

Source: World Bank Open Data · 2024 · confidence: High

0220th2.0%

Where Sweden ranks

Sweden ranks 20th of 48 at 2.0% (2024), below the OECD reference of 2.6%.

Source: World Bank Open Data · 2024 · confidence: High

035 economiesUkraine, Israel, Saudi Arabia, Russia, United Arab Emirates

Top five

The five highest by military spending (% of GDP) are Ukraine (34.5%), Israel (8.8%), Saudi Arabia (7.3%), Russia (7.1%), United Arab Emirates (5.6%).

Source: World Bank Open Data · 2024 · confidence: High

Data vintage — July 2026

Figures reflect the most recent year available in the World Bank Open Data API for each economy (shown next to every value). This index of military spending as a share of GDP by country regenerates automatically as new data is published.

Overview

Military expenditure, as a share of GDP, measures the economic weight of a country's defence effort. This index ranks countries by military spending relative to the size of their economy (World Bank, compiled from SIPRI).

The burden varies widely: economies facing acute security threats or with global-power ambitions spend several percent of GDP, while others shelter under alliances and spend far less — a gap now narrowing as NATO members raise budgets.

What drives the ranking

Defence spending reflects the threat environment, alliance commitments (e.g. NATO's 2%-of-GDP target), and strategic ambition. Recent geopolitical tension has driven the sharpest sustained increases in decades across Europe.

Sweden's accession to NATO and the wider European rearmament make this metric especially topical, and it connects directly to the defence names on the Stockholm exchange that Affärslivet tracks.

By region

Median military spending (% of GDP) by world region among the ranked economies. Regional medians reveal patterns the country ranking alone can hide.

RegionEconomiesMedianHighestLowest
Europe222.0%34.5%0.2%
Asia-Pacific121.5%2.8%0.8%
Americas71.3%3.4%0.6%
Middle East & Africa71.9%8.8%0.6%

Biggest movers

The largest changes in military spending (% of GDP) over the available window — where the action has been.

CountryChangeΔPeriod
Ukraine4.1% → 34.5%+30.4%2019–2024
Israel5.1% → 8.8%+3.7%2019–2024
Russia3.9% → 7.1%+3.2%2019–2024
Poland2.0% → 4.2%+2.2%2019–2024
Denmark1.3% → 2.4%+1.1%2019–2024
Finland1.4% → 2.3%+0.9%2019–2024
Sweden1.1% → 2.0%+0.9%2019–2024
Hungary1.3% → 2.2%+0.8%2019–2024

Full ranking — 48 economies

Complete ranking by military spending (% of GDP), most recent World Bank data, with world region. Region aggregates (EU, OECD, World) appear in the At-a-glance box as reference points.

#CountryMilitary Spending (% Of Gdp)RegionYear
1Ukraine34.5%Europe2024
2Israel8.8%Middle East & Africa2024
3Saudi Arabia7.3%Middle East & Africa2024
4Russia7.1%Europe2024
5United Arab Emirates5.6%Middle East & Africa2014
6Poland4.2%Europe2024
7United States3.4%Americas2024
8Colombia3.4%Americas2024
9Greece3.1%Europe2024
10Singapore2.8%Asia-Pacific2024
11South Korea2.6%Asia-Pacific2024
12Denmark2.4%Europe2024
13Finland2.3%Europe2024
14Romania2.3%Europe2024
15United Kingdom2.3%Europe2024
16India2.3%Asia-Pacific2024
17Hungary2.2%Europe2024
18Norway2.1%Europe2024
19France2.1%Europe2024
20Sweden2.0%Europe2024
21Turkiye1.9%Middle East & Africa2024
22Czechia1.9%Europe2024
23Netherlands1.9%Europe2024
24Germany1.9%Europe2024
25Australia1.9%Asia-Pacific2024
26Viet Nam1.8%Asia-Pacific2018
27China1.7%Asia-Pacific2024
28Italy1.6%Europe2024
29Chile1.6%Americas2024
30Portugal1.5%Europe2024
31Spain1.4%Europe2024
32Japan1.4%Asia-Pacific2024
33Philippines1.3%Asia-Pacific2024
34Canada1.3%Americas2024
35Belgium1.3%Europe2024
36New Zealand1.2%Asia-Pacific2024
37Thailand1.1%Asia-Pacific2024
38Austria1.0%Europe2024
39Malaysia1.0%Asia-Pacific2024
40Brazil1.0%Americas2024
41Mexico0.9%Americas2024
42Indonesia0.8%Asia-Pacific2024
43Switzerland0.7%Europe2024
44South Africa0.7%Middle East & Africa2024
45Egypt0.7%Middle East & Africa2024
46Argentina0.6%Americas2024
47Nigeria0.6%Middle East & Africa2024
48Ireland0.2%Europe2024

Scoreboard (machine-readable data)

Every headline indicator with its value, period, source and confidence. Free to reuse under CC BY 4.0.

↓ CSV · ↓ JSON

IndicatorValuePeriodSourceConf.
Ukraine34.48 %2024World Bank Open DataHigh
Israel8.78 %2024World Bank Open DataHigh
Saudi Arabia7.3 %2024World Bank Open DataHigh
Russia7.05 %2024World Bank Open DataHigh
United Arab Emirates5.64 %2014World Bank Open DataHigh
Poland4.15 %2024World Bank Open DataHigh
United States3.42 %2024World Bank Open DataHigh
Colombia3.36 %2024World Bank Open DataHigh
Greece3.13 %2024World Bank Open DataHigh
Singapore2.84 %2024World Bank Open DataHigh
South Korea2.56 %2024World Bank Open DataHigh
Denmark2.42 %2024World Bank Open DataHigh
Finland2.3 %2024World Bank Open DataHigh
Romania2.3 %2024World Bank Open DataHigh
United Kingdom2.28 %2024World Bank Open DataHigh
India2.27 %2024World Bank Open DataHigh
Hungary2.16 %2024World Bank Open DataHigh
Norway2.09 %2024World Bank Open DataHigh
France2.05 %2024World Bank Open DataHigh
Sweden2 %2024World Bank Open DataHigh
Turkiye1.92 %2024World Bank Open DataHigh
Czechia1.92 %2024World Bank Open DataHigh
Netherlands1.92 %2024World Bank Open DataHigh
Germany1.89 %2024World Bank Open DataHigh
Australia1.88 %2024World Bank Open DataHigh
Viet Nam1.81 %2018World Bank Open DataHigh
China1.71 %2024World Bank Open DataHigh
Italy1.61 %2024World Bank Open DataHigh
Chile1.58 %2024World Bank Open DataHigh
Portugal1.53 %2024World Bank Open DataHigh
Spain1.43 %2024World Bank Open DataHigh
Japan1.37 %2024World Bank Open DataHigh
Philippines1.32 %2024World Bank Open DataHigh
Canada1.31 %2024World Bank Open DataHigh
Belgium1.28 %2024World Bank Open DataHigh
New Zealand1.19 %2024World Bank Open DataHigh
Thailand1.08 %2024World Bank Open DataHigh
Austria1 %2024World Bank Open DataHigh
Malaysia0.99 %2024World Bank Open DataHigh
Brazil0.97 %2024World Bank Open DataHigh
Mexico0.89 %2024World Bank Open DataHigh
Indonesia0.78 %2024World Bank Open DataHigh
Switzerland0.72 %2024World Bank Open DataHigh
South Africa0.7 %2024World Bank Open DataHigh
Egypt0.67 %2024World Bank Open DataHigh
Argentina0.62 %2024World Bank Open DataHigh
Nigeria0.56 %2024World Bank Open DataHigh
Ireland0.24 %2024World Bank Open DataHigh

Methodology & verification

Economies are ranked by military spending (% of GDP) using the World Bank Open Data API, which harmonises national statistics for cross-country comparison. Each value is the most recent year available for that economy, shown alongside the figure; the trend table uses each economy's reported history. Economies with no reported value are omitted rather than estimated. Region aggregates (EU, euro area, OECD, World) are reference points, not ranked. Definitions of military spending differ (e.g. treatment of pensions and paramilitaries); the percentage-of-GDP measure captures burden, not absolute capability. Confidence: High (official multilateral source).

Data dictionary

FieldTypeDescription
metricstringWorld Bank indicator code : country ISO3
labelstringCountry name
valuenumbermilitary spending (% of GDP) value
unitstring%
periodstringReference year
geographystringCountry
source_urlstringWorld Bank indicator page

Frequently asked questions

Which country has the highest military spending (% of GDP)?

Ukraine, at 34.5% (2024). Source: World Bank Open Data.

Where does Sweden rank by military spending (% of GDP)?

Sweden ranks 20th of 48 at 2.0% (2024). Source: World Bank.

What are the top five by military spending (% of GDP)?

Ukraine (34.5%), Israel (8.8%), Saudi Arabia (7.3%), Russia (7.1%), United Arab Emirates (5.6%). Source: World Bank.

How is military spending (% of GDP) defined?

Military expenditure (% of GDP), as reported by the World Bank. See the methodology and glossary for details.

How many economies are ranked?

48 of the world's largest economies, plus the EU, OECD and World aggregates as reference points.

What is the caveat with this metric?

Definitions of military spending differ (e.g. treatment of pensions and paramilitaries); the percentage-of-GDP measure captures burden, not absolute capability.

Where does the data come from?

The World Bank Open Data API, which harmonises national statistics for cross-country comparison. Every figure shows its reference year and links to its World Bank indicator page.

How current is it, and how often does it update?

Each figure is the latest year the World Bank reports for that economy. The index regenerates automatically as new data is released.

Can I download this ranking?

Yes — the full ranking is available as CSV and JSON under a CC BY 4.0 licence, free to reuse with attribution to Affärslivet.

Glossary

Military Spending (% Of Gdp)
Military expenditure (% of GDP) — as reported by the World Bank. ↗
World Bank Open Data
A free, authoritative database of harmonised economic indicators for every country. ↗
Purchasing-power parity (PPP)
A conversion that equalises the price of a comparable basket of goods across countries, so output and incomes can be compared in real terms rather than at market exchange rates. ↗
Nominal (current US$)
A value converted at prevailing market exchange rates and not adjusted for differences in price levels. ↗
GNI per capita
Gross national income per person — like GDP per capita but including net income earned abroad; useful where cross-border corporate flows are large. ↗
Reference year
The year a figure applies to; it can differ across countries because national statistics are published on different schedules. ↗
Region aggregate
A World Bank grouping (e.g. European Union, OECD, World) whose value is a weighted regional total or average, shown here for reference rather than ranked. ↗

How to cite this report

APA

Affärslivet Research. (2026). Military Spending by Country 2026. Affärslivet. Version 1.1. https://xn--affrslivet-s5a.com/en/reports/military-spending-by-country

MLA

Affärslivet Research. "Military Spending by Country 2026." Affärslivet, 2026-07-01, https://xn--affrslivet-s5a.com/en/reports/military-spending-by-country.

BibTeX

@techreport{affarslivet_military_spending_by_country,
  title  = {Military Spending by Country 2026},
  author = {{Affärslivet Research}},
  year   = {2026},
  note   = {Version 1.1},
  url    = {https://xn--affrslivet-s5a.com/en/reports/military-spending-by-country}
}

Sources