According to the 2024 Global Military Expenditure Report data compiled by the Stockholm International Peace Research Institute (SIPRI), when Türkiye’s military expenditures in the 2015-2024 period are examined, a 110 percent increase was noted. It was reported that military expenditures in 2024 increased by 12 percent compared to 2023 and amounted to 25 billion dollars.
The research revealed that global military expenditures reached the highest increase in 2024 compared to the previous year since the end of the Cold War.
The report stated that all of the world’s 15 largest military spending countries increased their military expenditures in 2024 compared to 2023, with rapid growth particularly recorded in Europe and the Middle East.
The world’s top spending countries, the US, China, Russia, Germany and India, spent a total of 1.635 trillion dollars, accounting for 60 percent of total global military expenditures.
In the ranking of the 40 countries with the highest military spending in 2024, Turkey ranked 17th with $25 billion.
Meanwhile, real-term military spending increased by 9.4 percent, bringing total military spending worldwide to $2.718 trillion, and the global military burden – the share of global economic output devoted to military spending – rose to 2.5 percent of gross domestic product (GDP).
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