Free sample. This preview shows 1 of 1 indicator(s) and 3 of 20 economies, and omits the share, trend, momentum and full year-by-year sections. The complete report is at GET /report/indicator-military-spend for a small USDC payment over x402, as HTML, JSON or CSV. A free machine-readable cross-section is at GET /preview/indicator-military-spend.

Global Military Expenditure Panel — 20 Economies 2015-2025 — free sample

Generated: 2026-10-18T19:31:45.653Z | Range: 2015–2025 | Source: World Bank Open Data (CC BY 4.0)

Key findings

This report covers 3 economies and 1 indicator over 2015–2025, containing 33 published observations (100% of the 33 requested year × economy cells). Every figure is reproduced from World Bank Open Data and recomputed into growth, share, trend-fit, momentum, volatility, concentration and data-quality views. Values are also available as JSON and CSV from the same endpoint.

Coverage is 100% of the requested grid (33 of 33 economy-year cells across 1 indicator × 3 economies).
Widest cross-economy gap: Military expenditure (current US$) spans 15.4× from United States (954.39B) down to Japan (62.16B).
Sharpest growth split: in Military expenditure (current US$), China compounds +5.5%/yr while Japan grows +4.0%/yr.
Most concentrated: Military expenditure (current US$) (HHI 0.562 — equivalent to roughly 1.8 evenly sized economies carrying the weight).

Indicator	Rank 1	Latest value	CAGR / period avg	Trend	Economies	Latest yr
Military expenditure (current US$)	United States	954.39B	+4.2%	+5.0%	3	2025

Military expenditure (current US$)

United States ranks first at 954.39B, 70.6% of the group total. Fastest compound growth over the period is China at +5.5% per year; the slowest is Japan at +4.0%. Fitted trend is steepest upward in China (+5.5%, per year of its own mean level, R² 0.983) and weakest in Japan (+2.4%, R² 0.481). Largest acceleration — last three years against the three before — is Japan at +17.6% percentage points. Concentration is high (HHI 0.562, equivalent to 1.8 evenly sized economies). The largest covered value is 15.4× the smallest. 3 economies covered; latest observation year 2025.

Trend index (2015 = 100)

Share of group total, latest year

Ranked detail

Group total (latest year): 1.35T across 3 economies. Group median: 335.52B. Average period CAGR of the group: +4.5%. Cross-sectional dispersion: 101.4% of the group mean.

#	Economy	Latest	Share	Index	CAGR	Pctile
1	United States	954.39B	70.6%	151	+4.2%	100
2	China	335.52B	24.8%	171	+5.5%	67
3	Japan	62.16B	4.6%	148	+4.0%	33

Index = latest value as a percentage of the first year (100 = unchanged; blank for series that cross zero). CAGR is compound annual growth. Percentile ranks this economy within the covered group.

Trend and dynamics

Economy	Trend %/yr	Trend R²	Momentum	Half-period shift	Volatility	Latest YoY	Peak / trough yr	Outlier years
United States	+5.0%	0.95	-1.7%	+0.1%	4.3	-5.0%	2024 / 2015	—
China	+5.5%	0.98	-1.9%	-0.2%	3.5	+7.6%	2025 / 2015	—
Japan	+2.4%	0.48	+17.6%	+0.6%	10.1	+14.6%	2025 / 2015	—

Trend is the ordinary-least-squares fit of value on year, reported with its R² — how much of the movement the straight line explains, as a percentage of the period mean level so economies of different size are comparable. Momentum is the mean change of the last three years minus the mean of the three before it, in percentage points. Half-period shift compares the second half of the window against the first. Volatility is the standard deviation of year-over-year change. Outlier years exceed 2.5 standard deviations from that economy's own average change.

Data quality

Economy	Published	Expected	Coverage	Span	Missing years
United States	11	11	100%	2015–2025	—
China	11	11	100%	2015–2025	—
Japan	11	11	100%	2015–2025	—

Full year-by-year data

Economy	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
United States	633.83B	639.86B	646.75B	682.49B	734.34B	778.40B	806.23B	860.69B	916.01B	1.00T	954.39B
China	196.54B	198.70B	210.66B	232.54B	240.32B	258.02B	286.06B	291.57B	296.26B	311.90B	335.52B
Japan	42.11B	46.51B	45.03B	48.52B	50.78B	51.39B	53.62B	43.14B	48.10B	54.25B	62.16B

MethodologySeries are pulled from the official source API and null observations dropped. CAGR = (end/start)^(1/years) − 1. Index uses the first year of the range as 100. Trend is an OLS fit of value on year, reported as a percentage of the period mean alongside its R². Volatility = standard deviation of year-over-year percentage change (percentage points). Momentum compares the last three years against the three before. Share = economy value ÷ sum of the covered economies. HHI = sum of squared shares; its reciprocal estimates the number of evenly sized economies. Cross-indicator correlation is Pearson's r on pooled year-over-year changes.
CoverageRequested: 1 indicator(s) × 3 economies × 11 years = 33 cells; published: 33 (100.0%). Sparse indicators are declared in the Data quality section of each indicator.
FormatsThis document is the HTML delivery. Append ?format=json for the full structured payload (series plus every derived metric) or ?format=csv for the tidy long-format panel. The JSON schema is published at /schema/report.json.
LicenceData © World Bank Open Data (CC BY 4.0), attribution required. Generated by an automated pipeline; research reference only, not investment advice.
DisclaimerValues are reproduced as published by the source; some years may be estimates, nowcasts or subsequently revised figures. Correlations are descriptive statistics, not causal claims.