An example for NATO: Ukraine is first in the world in terms of military spending to GDP ratio
28 April 12:14
In 2024, global military spending reached $2,718 billion. This is 9.4 percent more than in 2023 and the sharpest annual increase since at least the end of the Cold War. Military spending has increased in all regions of the world, with particularly rapid growth in Europe and the Middle East. This is stated in a review published today by the Stockholm International Peace Research Institute (SIPRI), according to
In 2024, more than 100 countries around the world increased their defense budgets. Military spending in Europe (including Russia) increased by 17 percent to $693 billion and became the main driver of global growth in 2024. All European countries except Malta increased military spending in 2024.
How much do Ukraine and Russia spend on weapons?
Ukraine’s total military spending increased by 2.9 percent to $64.7 billion, equivalent to 43 percent of Russia’s spending. In 2024, Ukraine had the largest military burden, accounting for 34 percent of GDP.
Russia’s military spending in 2024 reached approximately $149 billion, up 38 percent from 2023 and twice as much as in 2015. This amounts to 7.1 percent of Russia’s GDP and 19 percent of all government spending.
According to Diego Lopes da Silva, Senior Research Fellow at SIPRI’s Military Expenditure and Arms Production Program, “Ukraine is currently directing all of its tax revenues to its army.” He also believes that with such limited fiscal space, it will be difficult for Ukraine to continue to increase its military spending.
To what extent have NATO member states increased their military spending?
All NATO members increased their military spending in 2024. The total amount reached $1,506 billion, or 55 percent of global military spending.
Of the 32 NATO member states, 18 spent at least 2 percent of GDP on their military, according to SIPRI’s methodology, up from 11 in 2023, and the most since NATO adopted spending guidelines in 2014.
Germany’s military spending increased by 28 percent to $88.5 billion. This makes Germany the leader in Central and Western Europe and fourth in the world.
“For the first time since reunification, Germany has the largest military budget in Western Europe,” says Lorenzo Scarazzato, researcher at the SIPRI Military Expenditure and Arms Production Program.
Poland’s military spending grew by 31 percent to $38 billion in 2024, which is 4.2 percent of Poland’s GDP.
In 2024, the United Kingdom increased its military spending by 2.8 percent to $81.8 billion and is sixth in the ranking of those who spend the most on defense. The ninth place goes to France, which has started spending more on armaments by 6.1 percent, and its military budget has reached $64.7 billion.
US military spending increased by 5.7 percent to $997 billion, accounting for 66 percent of total NATO spending and 37 percent of global military spending in 2024. A significant part of the US budget for 2024 was aimed at modernizing the US military capabilities and nuclear arsenal in order to maintain a strategic advantage over Russia and China.
NATO’s European members spent a total of $454 billion, accounting for 30 percent of total spending across the alliance.
Military budgets are also growing in the Middle East
Military spending in the Middle East reached approximately $243 billion in 2024, up 15 percent from 2023 and 19 percent from 2015.
Israel’s defense budget in 2024 grew by 65 percent to $46.5 billion, the sharpest annual increase since the Six-Day War in 1967. This, of course, was influenced by the fact that the country continued to wage war in Gaza and with Hezbollah in southern Lebanon. Israel’s military burden has grown to 8.8 percent of GDP, the second highest in the world.
Iran’s military spending in 2024 fell by 10 percent in real terms to $7.9 billion, despite the country’s participation in regional conflicts and support for regional proxies. The impact of sanctions on Iran has severely limited its ability to increase spending.
China is building up its military power
China’s defense spending increased by 7 percent to about 314 billion US dollars. China accounted for 50 percent of all military spending in Asia and Oceania. The country is constantly investing in modernizing its army and expanding its cyberwarfare capabilities and nuclear arsenal.
As reported by
Overall, European arms imports have increased by 155 percent over the past four years as European states responded to Russia’s invasion of Ukraine and uncertainty about the future of U.S. foreign policy.
ANALYSIS
