Venezuela Military Spending/Defense Budget 1960-2021

Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).
  • Venezuela military spending/defense budget for 2017 was $0.46B, a 113.07% increase from 2016.
  • Venezuela military spending/defense budget for 2016 was $0.22B, a 31.94% decline from 2015.
  • Venezuela military spending/defense budget for 2015 was $0.32B, a 79.38% decline from 2014.
  • Venezuela military spending/defense budget for 2014 was $1.55B, a 74.92% decline from 2013.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Billions of US $
China $228.47B
Russia $66.53B
Brazil $29.28B
Turkey $17.82B
Iran $13.93B
Algeria $10.07B
Colombia $10.02B
Iraq $7.42B
Thailand $6.32B
Mexico $5.06B
South Africa $3.64B
Romania $3.62B
Malaysia $3.49B
Peru $2.67B
Ecuador $2.46B
Lebanon $2.44B
Jordan $1.94B
Azerbaijan $1.53B
Kazakhstan $1.39B
Serbia $0.80B
Bulgaria $0.72B
Belarus $0.63B
Dominican Republic $0.53B
Botswana $0.52B
Venezuela $0.46B
Namibia $0.46B
Armenia $0.44B
Paraguay $0.35B
Guatemala $0.28B
Gabon $0.27B
Bosnia $0.16B
Albania $0.14B
Jamaica $0.14B
Equatorial Guinea $0.14B
Cuba $0.12B
North Macedonia $0.10B
Fiji $0.08B
Montenegro $0.07B
Guyana $0.06B
Belize $0.02B
Mauritius $0.02B
Costa Rica $0.00B
Venezuela Military Spending/Defense Budget - Historical Data
Year Billions of US $ % of GDP
2017 $0.46B 0.49%
2016 $0.22B 0.45%
2015 $0.32B 0.94%
2014 $1.55B 1.16%
2013 $6.20B 1.67%
2012 $5.11B 1.34%
2011 $3.58B 1.13%
2010 $3.99B 1.01%
2009 $4.06B 1.23%
2008 $5.66B 1.79%
2007 $4.35B 1.89%
2006 $3.63B 1.98%
2005 $2.67B 1.83%
2004 $1.45B 1.29%
2003 $0.99B 1.18%
2002 $1.07B 1.15%
2001 $1.91B 1.56%
2000 $1.79B 1.53%
1999 $1.41B 1.44%
1998 $1.45B 1.59%
1997 $1.54B 1.80%
1996 $0.73B 1.04%
1995 $1.20B 1.55%
1994 $0.94B 1.59%
1993 $1.29B 2.15%
1992 $0.99B 1.64%
1991 $0.98B 1.84%
1990 $0.74B 1.52%
1989 $1.20B 2.79%
1988 $1.10B 1.82%
1987 $0.77B 1.63%
1986 $1.00B 1.65%
1985 $0.82B 1.37%
1984 $1.33B 2.29%
1983 $2.01B 2.97%
1982 $1.52B 2.25%
1981 $1.01B 1.52%
1980 $1.00B 1.70%
1979 $0.93B 1.92%
1978 $0.83B 2.11%
1977 $0.75B 2.07%
1976 $0.59B 1.89%
1975 $0.71B 2.59%
1974 $0.60B 2.31%
1973 $0.42B 2.47%
1972 $0.40B 2.83%
1971 $0.35B 2.70%
1970 $0.27B 2.29%
1969 $0.26B 2.50%
1968 $0.27B 2.68%
1967 $0.27B 2.86%
1966 $0.24B 2.66%
1965 $0.23B 2.64%
1964 $0.20B 2.45%
1963 $0.25B 2.55%
1962 $0.20B 2.31%
1961 $0.11B 1.42%
1960 $0.23B 3.06%