The United States led the ranking of the countries with the highest military spending in 2023, with 916 billion US dollars dedicated to the military.
That constituted over 40 per cent of the total military spending worldwide that year, which amounted to 2.4 trillion US dollars.
This amounted to 3.5 per cent of the US gross domestic product (GDP), placing the US lower in the ranking of military expenditure as a percentage of GDP than for instance Saudi Arabia, Israel, Algeria, and Russia.
China was the second largest military spender with an estimated 296 billion US dollars spent, with Russia following in third.
