This article is a list of countries by military expenditure in a given year. Military expenditure figures are presented in United States dollars based on either constant or current exchange rates.  These results can vary greatly from one year to another based on fluctuations in the exchange rates of each country's currency. Such fluctuations may change a country's ranking from one year to the next.
The first list is based on the Stockholm International Peace Research Institute (SIPRI) 2017 Fact Sheet, which includes a list on the world's top 15 military spenders in 2016, based on current market exchange rates.  The second list is based on the 2016 edition of "The Military Balance" published by the International Institute for Strategic Studies (IISS) using average market exchange rates.
| List by the Stockholm International Peace Research Institute |
2017 Fact Sheet (for 2016) 
SIPRI Military Expenditure Database 
| List by the International Institute for Strategic Studies |
Top 15 Defence Budgets 2015 
- SIPRI estimate.
- The figures for Saudi Arabia include expenditure for public order and safety and might be slightly overestimated.
- Data from 2014.
- Arms industry
- Military budget
- List of countries by past military expenditure
- List of countries by military expenditure per capita
- List of countries by Global Militarization Index
- Military budget of the United States
- Military budget of the People's Republic of China
- Military budget of the Russian Federation