The following is a list of countries with the highest military expenditures.
The first list is based on the Stockholm International Peace Research Institute (SIPRI) fact sheet, which includes a list of the world's top 40 military spenders as of 2024, based on current market exchange rates.
The second list is based on the 2026 edition of The Military Balance, published by the International Institute for Strategic Studies (IISS) using average market exchange rates.
The following lists are of countries by military spending as a share of GDPâÂÂmore specifically, a list of the 15 countries with the highest share in recent years:
The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies.