Title page

Contents

THE WORLD'S LARGEST MILITARY SPENDERS IN 2023 3

REGIONAL TRENDS 5

MILITARY SPENDING AS A SHARE OF GDP 11

Table 1. The 40 countries with the highest military expenditure in 2023 2

Table 2. Military expenditure in 2023, by region and subregion 6

Figure 1. World military expenditure, by region, 1988-2023 1

Figure 2. The share of world military expenditure of the 15 countries with the highest spending in 2023 3

Figure 3. Changes in military expenditure, by subregion, 2022-23 7

Figure 4. Military spending as a share of gross domestic product, by country, 2023 10

Boxes

Box 1. NATO and the push for further increases in military expenditure 8