Turkey 22nd largest military spender in 2023 with 15.8 billion dollars

Turkey spent 15.8 billion dollars in military expenditures in 2023, marking a 37 percent increase since the previous year, reported the Stockholm International Peace Research Institute (SIPRI).

Monday April 22 2024 03:51 pm

Turkey has launched the LCD-grade assault ship 'TCG Anatolia' in April 2023.

Duvar English

Turkey spent $15.8 billion on military expenditures in 2023, according to Stockholm International Peace Research Institute (SIPRI)’s “Trends in Global Military Expenditure” report.

Military spending increased by 37 percent since 2022, and 59 percent in 10 years.

The amount constituted 1.5 percent of the country’s gross domestic product (GDP) and amounted to 0.6 percent of the overall global spending in 2023.

The country came 22nd in the world with its military spending, moving up a spot since 2022.

The United States (US) led with $916 billion in military spending, followed by China and Russia ($296 and $109 billion respectively, according to estimated figures).

Globally, military expenses increased by 6.8 percent in a year, marking the sharpest hike since 2009.

According to the report, 11 of the 31 North Atlantic Treaty Organization (NATO) members met or exceeded the target to spend at least two percent of their GDP in 2023, marking the highest number since the spending commitment was introduced in 2014.

NATO members’ average military burden was 1.9 percent of GDP in 2023. Turkey was among the only three NATO members who did not increase their military burden between 2014 and 2023 with a 0.4 percent decrease.

The other two were the US with a 0.3 percent decrease, and Croatia with 0.04 percent.

The total military spending of the 31 NATO members reached $1,341 billion in 2023, accounting for 55 percent of the world's military spending.

The report attributed the increased NATO expenditure to the introduction of new members and the overall upward trend in military spending.

Military spending in the Middle East increased to $200 billion with a nine percent increase. Saudi Arabia, Israel, and Turkey became the highest spenders in the region, contributing to the sharp increase.

Turkey allocated more than $40 billion to its defense budget in 2024, marking a 150% increase from 2023's budget.

The country also expects the $23 billion F-16 fighter jet procurement from the US to be finalized, after approving Sweden's NATO accession on Jan. 24.