Real-terms change in military spending, top 10 spenders

Percentage change in constant 2024 US dollars over each period, ending 2025.

Country1 year5 years10 years20 years
United States−7.5%−1.5%+11%+8.5%
China+7.4%+31%+62%+349%
Russia+5.9%+136%+96%+347%
Germany+24%+77%+118%+136%
India+8.9%+16%+39%+123%
United Kingdom−2.0%+24%+32%+21%
Ukraine+20%+969%+1,501%+2,729%
Saudi Arabia+1.4%+15%+12%+83%
France+1.5%+11%+21%+22%
Japan+9.7%+51%+61%+62%

The 1-year and 10-year figures are published by SIPRI. The 5-year and 20-year columns are calculated from SIPRI’s own constant-2024-dollar series; the same method reproduces SIPRI’s published figures exactly. Note that 2020 is a COVID-distorted base year and Russia’s 2020 figure was a pre-invasion trough, so the 5-year column is base-sensitive.

Colour key: green = a real-terms fall · orange = +50% to +100% · red = +100% to +150% · dark red = above +150%. Growth below +50% is left unmarked.

Afterburner — MiGFlug’s Magazine · migflug.com