World military spending in 2007 reached $1.214 trillion with the U.S. accounting for almost half.  NATO allies make up another 23% of spending, while Japan, S. Korea and Australia make up another 7% (included in the rest of the world slice).  While accurate data for 2007 is not available for some of the countries labeled as the 'axis of evil' by the administration, it is likely that these countries - Cuba, Iran, Libya, N. Korea, Sudan and Syria make up only around 1% of world military spending.

Source: The figures, compiled by the Stockholm International Peace Research Institute are compared in constant ($2005) prices and market exchange rates.