The 65 % jump in Israeli defense spending in 2024 to $ 46.5 billion was the largest since the six war in 1967, according to the Stockholm International Peace Research Institute report on military spending by the nation. The report found that “military spending in the Middle East amounted to an estimated $ 243 billion in 2024, an increase of 15 percent from 2023 and 19 percent more than 2015.” In December 2024 alone, Israel’s military expenses amounted to $ 5.7 billion.
Over the course of the decade until the end of 2024, Israel’s military spending increased by 135 %, which led to the country from fourteenth place around the world to the size of the defense budget in 2023 to the twelfth in 2024, as it exceeded Poland, which raised itself military spending due to the war of Russia, Krin, and Italy.
As “Globes” said last November, Israel is ranked second in the world for military expenditures as a percentage of GDP, after Ukraine. SIPRI is estimated at 8.8 %.
Another country that greatly sparked his military spending last year, Lebanon, by 58 % to 635 million dollars. Turkey reached a defense budget of $ 25 billion in 2024, which compared only $ 12 billion in 2023. In contrast, Iran reduced its military budget last year by 10 %, to $ 7.9 billion.
Globally, the defense expenditures last year grew for the tenth year in a row, to 2.718 trillion dollars, or more than 37 % over 2015. Global defense expenditures increased as a percentage of GDP by 2.5 % last year.
In Europe, the defense budgets grew by 17 % last year to $ 693 billion, while the defense budget for Russia grew by 38 % to $ 149 billion, its size doubled a decade ago, and represented 7.1 % of the country’s gross domestic product, which compares with 34 % to Ukraine.
In Central and Western Europe, Germany stands out, with a 28 % increase in military spending last year to 88.5 billion dollars, which places it in fourth place around the world. Its East neighbor Poland increased from military spending by 31 %, to $ 38 billion. 4.2 % of its gross domestic product. In NATO as a whole, the total defense budgets reached 1.506 trillion dollars. Eighteen out of 32 countries faced a target to spend at least 2 % of GDP on defense. The leader, of course, was the United States, with a $ 997 billion defense budget.
In second place around the world, China, which spent $ 314 billion in defense last year, was 7 % of GDP. China represents half the total defensive spending in the Asia and Oceania region. A long run behind is Japan, whose military expenses raised by 21 % last year to $ 55.3 billion. This gap is wide, but this was the largest increase in military expenditures by Japan since 1952, and by 1.4 %, its expenses were the highest percentage of GDP since 1958. Between China and Japan is India, with a rise of 1.6 % in military expenditures to 86.1 billion dollars.
It was published by Globes, Israel Business News – En.globes.co.il – on April 28, 2025.
© Copy Publish Publisher Itonut (1983) Ltd. , 2025.
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