The United States remains the largest military spender globally, allocating $880bn to its defense, more than the next eight countries combined. As European leaders convene in Paris for an emergency summit to discuss President Trump’s decision to engage in talks with Russia over the Ukraine conflict without European involvement, tensions over defense spending are high. Trump has called on NATO members to allocate 5 percent of their GDP to defense, while NATO Secretary-General Mark Rutte has also encouraged increased spending.
Global military spending reached $2.44 trillion in 2023, a 6.8 percent increase from the previous year, with the US leading the pack followed by China, Russia, India, and Saudi Arabia. Ukraine allocated the highest share of its GDP to military spending at 36.7 percent due to its conflict with Russia.
NATO, established in 1949, requires members to spend a minimum of 2 percent of their GDP on defense to ensure alliance readiness. In 2024, two-thirds of NATO members met this commitment, collectively spending $1.47 trillion on defense. As the alliance continues to grow, with Finland and Sweden as the latest members, defense spending remains a key issue, especially in light of increasing global military expenditures.
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