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Latvia - Military Spending 2023

Name: Latvia Military Spending 2023
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

Military expenditure as % of GDP · World Bank

2.97% +0.72% from 2022 Global rank: 126th

Latvia's military spending was 2.97% in 2023, increased +0.72% from 2.25% in 2022. This was the 126th highest globally.

Global Ranking - 2023▾

Military Spending by Country - 2023
Rank	Country	Value	YoY
1st	Haiti	0.05%	-21.3%
2nd	Mauritius	0.14%	1.3%
3rd	Zimbabwe	0.21%	-78.9%
4th	Ireland	0.23%	8.4%
5th	Papua New Guinea	0.34%	-20.0%
6th	Ghana	0.40%	17.8%
7th	Guatemala	0.42%	-9.2%
8th	Kazakhstan	0.44%	-14.8%
9th	Malta	0.50%	22.6%
10th	Mongolia	0.54%	5.6%
11th	Nicaragua	0.55%	3.3%
12th	Cabo Verde	0.57%	24.2%
13th	Moldova	0.57%	58.5%
14th	Gambia, The	0.58%	-17.7%
15th	Sierra Leone	0.60%	3.6%
16th	Guyana	0.64%	6.5%
17th	Madagascar	0.65%	-0.8%
18th	Mexico	0.66%	-3.7%
19th	Switzerland	0.71%	3.5%
20th	Bosnia and Herzegovina	0.72%	-4.6%
21st	South Africa	0.75%	-5.5%
22nd	Argentina	0.76%	10.4%
23rd	Benin	0.76%	19.8%
24th	Luxembourg	0.77%	23.6%
25th	Dominican Republic	0.78%	14.8%
26th	Egypt, Arab Republic of	0.81%	-20.3%
27th	Indonesia	0.82%	6.9%
28th	Nigeria	0.84%	29.6%
29th	Côte d'Ivoire	0.86%	0.0%
30th	Austria	0.87%	13.6%
31st	Bangladesh	0.92%	-7.2%
32nd	Paraguay	0.92%	5.8%
33rd	Cameroon	0.93%	-1.4%
34th	Trinidad and Tobago	0.96%	25.3%
35th	Kenya	0.98%	-3.4%
36th	Malaysia	0.98%	8.8%
37th	Belize	0.99%	1.4%
38th	Brazil	1.00%	-4.8%
39th	Nepal	1.07%	-7.4%
40th	Congo, Democratic Republic of	1.12%	97.1%
41st	Thailand	1.13%	-8.9%
42nd	Japan	1.14%	12.8%
43rd	Malawi	1.17%	24.9%
44th	Philippines	1.18%	-10.6%
45th	Belgium	1.18%	1.9%
46th	Jamaica	1.19%	-8.1%
47th	Tanzania	1.21%	1.6%
48th	New Zealand	1.22%	4.2%
49th	Guinea-Bissau	1.23%	-11.7%
50th	Peru	1.24%	8.9%
51st	Rwanda	1.25%	-6.1%
52nd	Canada	1.25%	7.4%
53rd	Kosovo	1.27%	10.7%
54th	Somalia, Fed. Rep.	1.29%	10.5%
55th	Bolivia, Plurinational State of	1.30%	34.0%
56th	Slovenia	1.32%	2.0%
57th	Gabon	1.32%	-2.6%
58th	Fiji	1.33%	-2.0%
59th	El Salvador	1.34%	-6.7%
60th	Zambia	1.34%	19.9%
61st	Eswatini	1.38%	-16.4%
62nd	Angola	1.41%	-0.2%
63rd	Liberia	1.42%	8.4%
64th	Netherlands	1.44%	10.5%
65th	Portugal	1.47%	5.5%
66th	Spain	1.47%	4.7%
67th	Czechia	1.47%	10.9%
68th	Senegal	1.48%	-3.1%
69th	Seychelles	1.49%	30.5%
70th	Germany	1.49%	10.2%
71st	Sweden	1.50%	12.8%
72nd	Equatorial Guinea	1.52%	16.5%
73rd	Montenegro	1.52%	-3.5%
74th	Honduras	1.52%	4.0%
75th	Cambodia	1.54%	0.2%
76th	Romania	1.60%	-8.4%
77th	Italy	1.61%	-2.7%
78th	Lebanon	1.62%	16.4%
79th	Lesotho	1.63%	10.3%
80th	Chile	1.63%	5.8%
81st	Sri Lanka	1.64%	22.1%
82nd	European Union	1.64%	7.9%
83rd	Cyprus	1.65%	-4.1%
84th	Georgia	1.66%	3.2%
85th	China	1.66%	2.1%
86th	North Macedonia	1.69%	7.1%
87th	Croatia	1.71%	-5.3%
88th	Türkiye	1.72%	3.7%
89th	Albania	1.74%	44.0%
90th	Uganda	1.81%	-2.1%
91st	Norway	1.81%	23.8%
92nd	Slovak Republic	1.84%	2.1%
93rd	Australia	1.86%	-1.2%
94th	Mozambique	1.93%	-12.7%
95th	Bulgaria	1.94%	22.5%
96th	France	1.95%	-0.3%
97th	Niger	1.98%	25.6%
98th	Congo, Republic of	1.98%	3.6%
99th	Denmark	2.00%	46.9%
100th	Finland	2.01%	26.4%
101st	Belarus	2.02%	22.7%
102nd	Hungary	2.05%	11.8%
103rd	South Sudan	2.10%	33.1%
104th	Uruguay	2.12%	3.6%
105th	Chad	2.12%	3.6%
106th	Guinea	2.13%	-2.5%
107th	Serbia	2.21%	1.6%
108th	United Kingdom	2.23%	8.4%
109th	Mauritania	2.26%	9.8%
110th	Iraq	2.26%	38.0%
111th	Ecuador	2.27%	2.1%
112th	Iran, Islamic Republic of	2.35%	11.4%
113th	India	2.36%	-1.1%
114th	Central African Republic	2.38%	38.9%
115th	Tajikistan	2.40%	24.1%
116th	Botswana	2.46%	-2.4%
117th	Tunisia	2.49%	-3.3%
118th	Korea	2.60%	0.9%
119th	Timor-Leste	2.65%	91.9%
120th	Lithuania	2.71%	11.0%
121st	Namibia	2.75%	-5.6%
122nd	Singapore	2.83%	17.6%
123rd	Pakistan	2.88%	-9.3%
124th	Greece	2.88%	-27.9%
125th	Colombia	2.97%	6.0%
126th	Latvia	2.97%	31.7%
127th	Brunei Darussalam	2.98%	13.9%
128th	Estonia	3.00%	40.3%
129th	Togo	3.05%	-26.4%
130th	Poland	3.27%	48.3%
131st	United States	3.30%	-0.2%
132nd	Burundi	3.43%	32.1%
133rd	Kyrgyz Republic	3.45%	19.0%
134th	Bahrain	3.52%	2.8%
135th	Morocco	3.59%	-5.8%
136th	Myanmar	3.75%	-10.0%
137th	Mali	3.77%	22.1%
138th	Burkina Faso	4.08%	36.8%
139th	Kuwait	4.77%	5.7%
140th	Jordan	4.81%	0.3%
141st	Azerbaijan	4.92%	29.7%
142nd	Libya	5.29%	21.6%
143rd	Israel	5.38%	21.5%
144th	Russian Federation	5.40%	17.3%
145th	Armenia	5.51%	34.9%
146th	Oman	5.53%	5.0%
147th	Saudi Arabia	7.28%	13.9%
148th	Algeria	7.39%	82.1%
149th	Ukraine	36.53%	42.5%

FAQ

What was Latvia's military spending in 2023?▾

Latvia's military spending in 2023 was 2.97%. This ranked 126th globally.

How did Latvia's military spending change in 2023?▾

Latvia's military spending increased by 31.7% in 2023 compared to 2022.

Which country had the highest military spending in 2023?▾

Ukraine had the highest military spending in 2023 at 36.53%.

What is the military spending of Latvia in 2023?▾

The military spending of Latvia in 2023 was 2.97%. This ranked 126th globally.

How does 2023 compare to 2022 for Latvia's military spending?▾

Latvia's military spending went from 2.25% in 2022 to 2.97% in 2023, a 31.7% increase.

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