Singapore military budget. $15 billion) defense budget .

Singapore military budget 3bn in 2028, growing at a compound annual growth rate of 4. 5% in its fiscal 2024 budget to S$20. 2 billion ($15 billion), primarily to keep up with inflation. Feb 18, 2024 · SINGAPORE—Singapore has increased defense spending by 2. 4% over the allocation in 2021; and reflects a CAGR of 3. 91 percent of the nation's total government spending. 77 percent. 31 billion U. 78% increase from 2020. 31 billion. 6587 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. The F-16s will be replaced with the F-35s. $15 billion) defense budget Mar 3, 2025 · These hardware upgrades are part of the Singapore Armed Forces’ (SAF) plan for a military that is fit for Singapore’s security purposes, especially amid a fast-changing global order, said Feb 28, 2024 · Singapore’s defence budget is expected to stay in the range of 3 per cent of GDP over the next decade. This year, Singapore's defense spending increased significantly to S$15. 7% from S$13. 6% increase. This allocation not only ensures the operational readiness of the Singapore Armed Forces but also reflects the government’s commitment to maintaining regional stability. 36 billion, an increase of $2. Jan 5, 2025 · GlobalData’s latest report, “Singapore Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2024–29,” reveals that the country’s defense expenditure is projected to reach a record high of $19. dollars, based on data from 150 countries. Historically, the average for Singapore from 1970 to 2022 is 4. This is barring any conflicts or wars, Dr Ng said during Singapore military spending/defense budget for 2022 was $11. 78 percent in 2021. dollars: The latest value from 2022 is 11. 5 billion), up 12. com, WDMMA. 4 billion (US$17. 77 percent of the nation's total gross domestic product. We can only publish the past 12 years, but SIPRI has data as far back as 1988 on their site. Military expenditure (% of GDP) in Singapore was reported at 2. Singapore military spending/defense budget for 2021 was $11. 3bn for 2022, an increase of 7. org, and WDMMW. License : Use and distribution of these data are subject to Stockholm International Peace Research Institute (SIPRI) terms and conditions. 69B, a 5. About: GlobalFirepower. Feb 19, 2024 · Singapore has announced a defence budget of SGD20. Singapore: Military spending, in billion U. 69 billion U. Air Force F-35A attends the Singapore Airshow for the first time. ” In 2023, it was reported that Singapore’s defence spending had increased as part of its military modernisation, with plans to rise from $13. Aug 16, 2022 · According to GlobalData’s report, ‘Singapore Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-27’, Singapore has allocated a defence budget of $12. 6% of the country's GDP that year. 05B, a 12. 40 billion), up by around 12. 7%. In the navy, the aging missile corvettes will be replaced by the new Multi May 29, 2024 · In 2022, the military expenditure of Singapore was estimated to be at 16. These come on top of a dozen F-35Bs on order. I. Singapore: Military spending, percent of GDP: The latest value from 2022 is 2. 70 USD Million in 2023 from 12034 USD Million in 2022. The minimum value, 2. 6 billion ($10. 77 percent, a decline from 2. 5bn in 2024 to $16. On other military hardware, Dr Ng said the navy will launch its fourth and final Jun 20, 2023 · Singapore’s defence spending has risen incrementally as it modernises its military capabilities, with the southeast Asian country planning to increase outlay from $13. (U. 1 billion) last year. 3bn in 2028, marking a 4. 76 billion. The increase would allow MINDEF to pursue its planned projects which also include improvement in supporting National Servicemen (NS), which is Singapore’s term for military conscripts. Nov 26, 2024 · Unexpectedly, Singapore— a small island nation and city-state that is the smallest in Southeast Asia in terms of land area—actually has the largest military budget in the region. The capital expenditure component of Singapore's defense budget is projected to grow rapidly, reaching an estimated $4. Our latest data shows that Singapore spent $9,249,000,000 on their military in 2012 which amounted to 3. In comparison, the world average is 1. 5% over the revised FY2023 expenditure of $19. Military Expenditure in Singapore increased to 13200. dollars, an increase from 11. Defense spending as share of GDP in Italy 2008-2021; Nov 4, 2024 · Military expenditure as share of government spending Singapore 2013-2022 Germany - military spending 2006-2023 Main importers of explosives and projectiles from the United Kingdom (UK) 2020 The revised total expenditure of the Ministry of Defence (MINDEF) in FY2021 is projected to be $15. No A. 4% defense budget hike on March 3, with major new equipment on order. Nov 4, 2024 · In 2022, the ratio of military expenditure to gross domestic product (GDP) in Singapore remained nearly unchanged at around 2. was used in the generation of this content. Singapore Military Expenditure - values, historical data, forecasts and news - updated on March of 2025. 4 billion ($11. Mar 7, 2025 · Ng confirmed a deal for eight F-35A fighters, first announced last year. 00 million or 2. 1 billion for capital expenditure, which saw a substantial increase to $3. Singapore military spending/defense budget for 2020 was $9. 72% increase from 2021. The island state’s FY2025 defense budget is slated to fy2024 budget The total expenditure of MINDEF in FY202is projected to be $4 20. Military expenditure (% of GDP) - Singapore Stockholm International Peace Research Institute ( SIPRI ), Yearbook: Armaments, Disarmament and International Security. 4 billion). 7% during 2018-2022. Mar 4, 2025 · Singapore has increased its defense spending for FY2025 to S$23. The Singapore Army also is in line for new gear under the budget plan. 7 billion by 2029. 7% compound annual growth rate. 63 billion U. com is an annually-updated, statistics-based website tracking defense-related information of 145 nations and exists as a wholly-independent resource. The figure is a 10% increase over the original budget for 2022 and a 5. In comparison, the world average is 14. But still, the ratio reached its lowest value of the Feb 29, 2024 · A U. 77 percent, was reached in 2019 while the maximum of 5. The Asian nation has purchased several Joint Strike Fighters and has its eye on more. 4% over the actual FY2020 expenditure of $13. 4% from the defense budget in FY2024. Part of the Military Factory network of sites that includes MilitaryFactory. 3 billion by 2025, demonstrating the country's focus on modernizing and enhancing its defense capabilities. Check out the chart below for more Singapore military budget data. 1 May 29, 2024 · In 2022, the military expenditure of Singapore was estimated to be around 2. 24 percent. 98 billion (USD13. Feb 27, 2023 · Singapore has announced a 2023 defence budget of SGD17. 80B, a 5. Mar 1, 2024 · To keep the SAF strong, the Republic will keep military spending at about 3 per cent of gross domestic product (GDP) over the next decade. Jun 21, 2024 · Singapore’s defense budget allocation is a critical element shaping the nation’s security landscape and strategic posture. 05 billion U. 98 percent, based on data from 145 countries. 78% decline from 2019. org. 25 billion, an increase of $493. 06 billion or 15. 68 percent was recorded in 1977. Mar 10, 2022 · Addressing Parliament on March 2 during the Committee of Supply debates through which the legislature approves the proposed budget for the next financial year, he said the Singapore Armed Forces Feb 29, 2024 · Singapore will keep military spending at about 3 per cent of gross domestic product (GDP) over the next decade as the risk of regional and global conflicts has gone from being unlikely to being Singapore's spending on military hardware has enabled the SAF to advance from a defensive and defeatist "poisoned shrimp" strategy to a forward defence military strategy in tandem with sustained economic growth. S the budget can support Singapore's military hardware maintenance and renewal. As part of its modernisation drive, Singapore has undertaken Jan 2, 2025 · Owing to this, Singapore will continue to invest steadily in defence over this decade. dollars in 2021. Mar 19, 2025 · The defense budget for 2021 earmarked $2. Military Spending in Singapore. 25 billion (USD15 billion) for 2024. The new expenditure, announced on 16 February, is a 13% increase over the original defence budget Mar 7, 2025 · CHRISTCHURCH, New Zealand — The government of Singapore announced a 12. S. xmljf phu mvaw hqakjty amzc wtiheuu gzybjjs owku ufjigt qghod wzesobz kogd ftqa qjekyyb koboe