ArmInfo. Armenia ranks 69th with $1.41 billion (5.5% of GDP) in the World Bank's (WB) unified statistics on defense spending for 2024. According to Georgian Business Media, the World Bank published unified statistics on defense spending by countries worldwide, according to which the global defense budget in 2024 will reach a record $2.65 trillion, representing an annual increase of $265 billion. Defense spending has grown by $600 billion over four years.
Georgia ranks 91st in this ranking with military spending of $615 million (1.86% of GDP), while Azerbaijan ranks 52nd with a military budget of $3.77 billion (5% of GDP). Turkey's defense budget is $25 billion, representing 1.92% of the country's GDP.
According to the World Bank, the United States consistently ranks first with military spending of $997 billion in 2024, representing 3.42% of US GDP. China ranks second with $314 billion, accounting for 1.71% of its GDP, and Russia ranks third with a military budget of $149 billion, accounting for 7.05% of its GDP.
Israel's military budget is $46.5 billion, or 8.8% of its GDP; Iran's official defense budget is $7.9 billion, or 2% of its GDP. Ukraine's military budget in 2024 was $64.7 billion, accounting for 34.5% of its GDP.
