The annual U.S. defense expenditure is the largest in the world. In 2023, the U.S. spent $916 billion on defense according to a report by Peter G.Peterson Foundation quoting SIPRI data. This amount was $55 billion higher than in 2022 in part due to military aid to Ukraine in its fight against Russia.

Looking at a different perspective, the report notes that the US defense spending of $916 billion is higher than the spending of the next 9 countries combined in 2023. The following chart shows the comparison:

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Source: Peter G.Peterson Foundation

One benefit of the high spending by the US, helps other countries receive free security while they spend their funds on other items. For example, Canada (not in the list shown above) spends more on social benefits and other domestic items than on defense. Same goes most of the developed countries in Europe.