PUBLISHER: MarketLine | PRODUCT CODE: 1761659
PUBLISHER: MarketLine | PRODUCT CODE: 1761659
Global Government Spending industry profile provides top-line qualitative and quantitative summary information including: market size (value , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Government spending refers to the money spent by the government of a country to provide goods and services to its citizens. It helps to drive economic growth, create employment opportunities, and improve the standard of living for its citizens.
The market is segmented into defense, education, social protection, healthcare, and others. Defense segment includes all military and civil defense spending, research and development, and other defense-related expenditures. The education segment includes all spending on pre-primary education, primary education, secondary education, tertiary education, research and development, and other education-related expenditures. Social protection segment covers all spending on sickness and disability, old age, survivors, family and children, unemployment, housing, social exclusion, research and development, and other social protection expenditures. Health segment includes all spending on medical products, and equipment, as well as outpatient, hospital, and public health services, research and development, and other health expenditures. Others segment includes spending on general public services, public order and safety, economic affairs, environmental protection, housing and community amenities, recreation, culture and religion, and related government expenditures.
All market data and forecasts are based on nominal prices (i.e., prices not adjusted for inflation), and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates. The USD values may show a declining trend for few countries such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global government spending market recorded expenditure of $35,618.1 billion in 2024, representing a compound annual growth rate (CAGR) of 5.1% between 2019 and 2024.
The social protection segment accounted for the market's largest proportion in 2024, with total expenditure of $8,928.8 billion, equivalent to 25.1% of the market's overall expenditure.
In the global government spending market, North America held the largest share of 35.6% in 2024, followed by Europe (33.9%), Asia-Pacific (23.4%), South America (4.4%), and Middle East & Africa (2.8%).