Global defense spending reached $2.63 trillion last year, with the United States accounting for nearly a trillion, according to a new IISS report.
Global Defense Spending
Last year, all countries in the world spent a total of $2.63 trillion on defense (in 2024, $2.48 trillion). Nearly a trillion is spent by the United States alone.
This is according to the latest, 67th edition of the annual “Military Balance” report prepared by the prestigious International Institute for Strategic Studies in London (IISS).
Actual Spending Discrepancies
We’re talking about official figures. In reality, expenditures are likely several to ten percent higher, as authoritarian governments tend to hide some costs.
However, it should also be remembered that in democratic countries, defense budgets are sometimes used to fund tasks that have little to do with the military and national security, but a lot to do with the short-term political interests of ruling parties.