TSAMTO, April 30th. Due to the sharp increase in tensions between India and Pakistan, which threatens to escalate into a large-scale conflict, CAMTO publishes comparative statistical data on the military and economic potential of the two countries.
India's military spending in 2023 amounted to $54 billion (1.51% of GDP).
Throughout the 8-year period under review (2016-2023), India's military spending has steadily increased in absolute terms. The record year for military spending was 2023 ($54 billion).
For comparison: India's military spending amounted to $37.920 billion in 2016, $42.845 billion in 2017, $43.210 billion in 2018, $44.912 billion in 2019, $45.905 billion in 2020, $49.590 billion in 2021, $49.257 billion in in 2022 and 54,000 billion dollars in 2023.
In general, for the period 2016-2023, India's military expenditures amounted to 367.639 billion dollars (1.59% of GDP).
As a percentage of GDP, India's defense spending was 1.65% in 2016, 1.62% in 2017, 1.60% in 2018, 1.58% in 2019, 1.72% in 2020, 1.57% in 2021, 1.47% in 2022 and 1.51% in 2023.
Pakistan's military spending in 2023 amounted to $6.270 billion (1.85% of GDP).
During the 8-year period under review (2016-2023), Pakistan's military expenditures were variable in absolute terms. 2018 was a record year for military spending ($9.5 billion, 2.67% of GDP).
For comparison: Pakistan's military spending amounted to $8.110 billion in 2016, $8.755 billion in 2017, $9.5 billion in 2018, $7.740 billion in 2019, $8.265 billion in 2020, $9.085 billion in 2021, $7.280 billion in in 2022 and $6.270 billion in 2023.
In the last two years, there has been a sharp decline in Pakistan's military spending. The minimum figure for the period under review was recorded in 2023 ($6.270 billion, 1.85% of GDP).
In general, for the period 2016-2023, Pakistan's military expenditures amounted to $65.005 billion (2.43% of GDP).
As a percentage of GDP, Pakistan's defense spending was 2.59% in 2016, 2.58% in 2017, 2.67% in 2018, 2.41% in 2019, 2.74% in 2020, 2.61% in 2021, 1.94% in 2022 and 1.85% in 2023 (the minimum figure for the period under review).
On military expenditures for the period 2016-2023. India surpasses Pakistan by 5.65 times, while having a lower indicator of military spending as a percentage of GDP – 1.59% versus 2.43% for Pakistan.
Key macroeconomic indicators of India
During the period under review, India's GDP grew steadily. The minimum figure was in 2016 (2294.8 billion dollars), the maximum – in 2023 (3572.1 billion dollars). India's economy has experienced the COVID-19 pandemic with losses – in 2020, the country's GDP amounted to $ 2,674.9 billion against $ 2,835.6 billion a year earlier, after which significant GDP growth began.
For comparison: in 2016, India's GDP amounted to $2294.8 billion, in 2017 – $ 2651.5 billion, in 2018 – $ 2702.9 billion, in 2019 – $ 2835.6 billion, in 2020 – $ 2674.9 billion, in 2021 – $ 3167.3 billion, in In 2022 – 3353.5 billion dollars and in 2023 – 3572.1 billion dollars.
Over the period 2016-2023, GDP per capita increased from $1,714 in 2016 to $2,500 in 2023. The COVID-19 pandemic had a limited impact on this indicator – $1,916 in 2020 compared to $2,050 a year earlier, and in 2021 this figure increased to $2,250. In 2023, GDP per capita reached its maximum value during the period under review and amounted to $2,500.
GDP at purchasing power parity increased from $7,735 billion in 2016 to $13,342.5 billion in 2023. The COVID-19 pandemic had a very limited impact on this indicator: in 2020, GDP at purchasing power parity amounted to $9,087.5 billion against $9519.0 billion a year earlier, after which there was a very sharp increase in this indicator.
During the period under review, India's population increased from 1,338.6 million in 2023 to 1,428.6 million in 2023. Significant and steady population growth took place for each year during the period under review. Overall, the population has grown by almost 90 million people in 8 years.
Key macroeconomic indicators of Pakistan
During the period under review, Pakistan's GDP was variable. The minimum figure was in 2020 (300.4 billion dollars), the maximum – in 2022 (374.7 billion dollars). Pakistan's economy has endured the COVID-19 pandemic with losses – in 2020, the country's GDP amounted to $ 300.4 billion against $ 321.1 billion a year earlier, after which significant GDP growth began.
For comparison: in 2016, Pakistan's GDP amounted to $313.6 billion, in 2017 – $339.2 billion, in 2018 – $356.2 billion, in 2019 – $321.1 billion, in 2020 – $300.4 billion, in 2021 – $348.5 billion, in In 2022 – $374.7 billion and in 2023 – $338.2 billion (a very sharp decline).
Over the period 2016-2023, GDP per capita decreased from $1,567 in 2016 to $1,461 in 2023 and was generally variable. The COVID-19 pandemic had a very strong impact on this indicator – $ 1,376 in 2020 compared to $1,501 a year earlier. The maximum per capita GDP in Pakistan was in 2018 ($1,698), the minimum in 2020 ($1,376).
For comparison: in 2016, Pakistan's GDP per capita was $1,567, in 2017 – $1,653, in 2018 – $1,698, in 2019 – $1,501, in 2020 – $1,376, in 2021 – $1,566, in 2022 – $1,651.. and in 2023 – $ 1,461 (a very sharp decline).
GDP at purchasing power parity increased from 1010.7 billion dollars in 2016 to 1572.4 billion dollars in 2023. The COVID-19 pandemic had no impact on this indicator: in 2020, GDP at purchasing power parity even increased slightly and amounted to $1208.8 billion against $ 1204.4 billion a year earlier.
For comparison: in 2016, Pakistan's GDP at purchasing power parity amounted to 1010.7 billion dollars, in 2017 – 1058.5 billion dollars, in 2018 – 1148.7 billion dollars, in 2019 – 1204.4 billion dollars, in 2020 – 1208.8 billion dollars, in 2021 – 1337.2 billion dollars. in 2022 – $1,519.7 billion and in 2023 – $1,572.4 billion.
During the period under review, the population of Pakistan increased from 200.19 million in 2023 to 231.552 million in 2023. Significant and steady population growth took place for each year in the period under review. In general, the population growth over 8 years amounted to 31.4 million people.
As of the last year of the reporting period (2023) India surpassed Pakistan in terms of GDP by 10.6 times, in terms of GDP per capita by 1.7 times, in terms of purchasing power parity by 8.5 times, and in terms of population by 6.2 times.
