Venezuela, RB: Military expenditure (current USD)

Key figures

What the numbers say

In 2017, Venezuela, RB's military expenditure (current USD) rose 875.4% on 2016 (from 218.15 million to 2.13 billion).

Across the 30 yearly changes before that (1987 to 2016), the average change was +5.1% and a typical year strayed about 42% from that (the standard deviation). This year's change was 20.7 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 875.4% in 2017 and the biggest yearly fall was 79.4% in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2008 to 2017 the straight-line trend is downward, about 496.91 million a year. A straight line explains 49% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

What this measures

Military spending USD, in current prices (converted at the exchange rate for the given year)

Limitations: SIPRI strives to compile reliable, consistent military expenditure data by assessing multiple sources, but accuracy depends on the quality and transparency of those sources. Challenges arise from two key issues: whether reported figures reflect actual spending and how closely they match SIPRI’s definition. While data is generally accurate in developed and many developing countries, weak governance, corruption, and secret transfers in others can lead to major discrepancies. SIPRI sometimes makes estimates, when sources conflict or lack coverage, introducing uncertainty, especially for countries like China or the UAE.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 58 values

Military expenditure (current USD) in nearby economies

• Argentina — 3.88 billion (2025)
• Belize — 33.32 million (2025)
• Bolivia — 688.31 million (2025)
• Brazil — 23.95 billion (2025)
• Chile — 5.33 billion (2025)
• Colombia — 14.5 billion (2025)
• Costa Rica — 0 (2025)
• Cuba — 128.61 million (2018)
• Dominican Republic — 1.04 billion (2025)
• Ecuador — 2.74 billion (2025)
• El Salvador

More public sector data for Venezuela, RB

• Military expenditure (current LCU) — 10,941,500,000 trillion (2023)
• Arms imports (SIPRI trend indicator values) — 98 million (2023)
• Military expenditure (% of GDP) — 2.23% (2017)
• Armed forces personnel, total — 343,000 (2020)
• Intentional homicides (per 100,000 people) — 12.65 (2022)
• Armed forces personnel (% of total labor force) — 3.47% (2020)
• Intentional homicides, female (per 100,000 female) — 5.12 (2017)
• Intentional homicides, male (per 100,000 male) — 90.07 (2017)
• Statistical performance indicators (SPI): Pillar 1 data use score (scale 0-100)

Reading data like this

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Questions people ask

What is Venezuela, RB's military expenditure (current USD)?

2.13 billion in 2017, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 807.99% from 234.36 million in 1960 (3.95% a year on average, compounded). The highest value was 6.2 billion in 2013 and the lowest 114.63 million in 1961.

Is the latest change in military expenditure (current USD) unusual for Venezuela, RB?

In 2017, Venezuela, RB's military expenditure (current USD) rose 875.4% on 2016 (from 218.15 million to 2.13 billion). Across the 30 yearly changes before that (1987 to 2016), the average change was +5.1% and a typical year strayed about 42% from that (the standard deviation). This year's change was 20.7 standard deviations above that average, so it was unusually large compared with the rest of the record.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), uri: https://www.sipri.org/databases.

Source

World Bank, World Development Indicators, indicator MS.MIL.XPND.CD, licensed CC BY 4.0. Original source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), uri: https://www.sipri.org/databases Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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