Iceland vs Panama: Military spending

Iceland

0 constant 2024 US$

in 2025

Panama

0 constant 2024 US$

in 2025

Iceland rank

160th

Panama rank

160th

Military spending over time

Iceland currently reports 0 constant 2024 US$ against 0 constant 2024 US$ in Panama, a difference of 0 constant 2024 US$.

Across all 39 years both countries report, Panama has been ahead every year.

Iceland ranks 160th and Panama ranks 160th of 162 countries.

Indicator: Military spending
Unit: constant 2024 US$
Source: Stockholm International Peace Research Institute (2026) – with minor processing by Our World in Data
Licence: CC BY 4.0 (Our World in Data)
Coverage: 162 places, 8,341 data points, 1949–2025
Last refreshed: 07 August 2026

This data is expressed in US dollars. It is adjusted for inflation but does not account for differences in the cost of living between countries.