Ukraine bears the heaviest military burden in the world. Its military expenditure as a percentage of GDP was 34% in 2024, compared to 3.8% in 2015.
This is according to a report by the Stockholm International Peace Research Institute (SIPRI).
In 2024, Ukraine's military spending increased by 2.9%, reaching $64.7 billion, which is equivalent to 43% of Russia's annual spending and 54% of Ukraine's total government expenditure. Ukraine's share of global military spending is 2.4%. All of Ukraine's tax revenues were fully absorbed by its military expenditures in 2024, while all non-military social and economic spending was funded by foreign aid.
Additionally, Ukraine received at least $60 billion in financial military aid in 2024, primarily from the United States, Germany, and other European countries.
‘Russia once again significantly increased its military spending, widening the spending gap with Ukraine,’ said Diego Lopes da Silva, Senior Researcher with the SIPRI Military Expenditure and Arms Production Programme. ‘Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending.’
SIPRI includes military assistance in the donor country’s expenditure assessment, not the beneficiary country's, meaning the $60 billion is not included in Ukraine's total. If it were, Ukraine’s military spending would have amounted to $125 billion in 2024, making it the fourth largest military spender globally (after the US, China, and Russia).
According to the initial 2024 budget, Ukraine planned to allocate 74% of its military budget for personnel and 23% for the procurement and repair of military equipment. By the end of July 2024, amendments were made to the budget to increase military spending by nearly $13.5 billion, with more than half of the additional amount directed towards increasing funding for salaries and supporting the families of fallen or wounded soldiers.
Download the SIPRI Fact Sheet here.
