Many countries in the European Union increased military spending in proportion to their annual economic output (GDP) in the second half of the 2010s, as the geopolitical situation in Europe deteriorated in the aftermath of Russia's annexation of Crimea from Ukraine and the reemergence of great power conflict between the United States and China. Greece was the country with the highest amount of its GDP spent on military uses, with 3.9 percent being spent in 2022, an increase on the already high amounts in the previous years.
Four EU member states met the European Defence Agency and NATO target of two percent of GDP spent on their militaries in 2021 - they were: Greece, Poland, Estonia, and Latvia. On the other hand, most of the large European military powers underspent relative to GDP, with Germany and Italy spending only 1.5 percent of their GDPs. These countries are likely to invest more in their militaries in the coming years, in reaction to Russia's invasion of Ukraine in 2022 and its aggressive foreign policy towards its European neighbors.
Annual military expenditure as a share of gross domestic product (GDP) in the European Union from 2005 to 2022, by member state
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European Defence Agency. (May 8, 2024). Annual military expenditure as a share of gross domestic product (GDP) in the European Union from 2005 to 2022, by member state [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1396566/eu-military-defense-spending-share-gdp-member-states/
European Defence Agency. "Annual military expenditure as a share of gross domestic product (GDP) in the European Union from 2005 to 2022, by member state." Chart. May 8, 2024. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1396566/eu-military-defense-spending-share-gdp-member-states/
European Defence Agency. (2024). Annual military expenditure as a share of gross domestic product (GDP) in the European Union from 2005 to 2022, by member state. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1396566/eu-military-defense-spending-share-gdp-member-states/
European Defence Agency. "Annual Military Expenditure as a Share of Gross Domestic Product (Gdp) in The European Union from 2005 to 2022, by Member State." Statista, Statista Inc., 8 May 2024, https://www.statista.com/statistics/1396566/eu-military-defense-spending-share-gdp-member-states/
European Defence Agency, Annual military expenditure as a share of gross domestic product (GDP) in the European Union from 2005 to 2022, by member state Statista, https://www.statista.com/statistics/1396566/eu-military-defense-spending-share-gdp-member-states/ (last visited November 22, 2024)
Annual military expenditure as a share of gross domestic product (GDP) in the European Union from 2005 to 2022, by member state [Graph], European Defence Agency, May 8, 2024. [Online]. Available: https://www.statista.com/statistics/1396566/eu-military-defense-spending-share-gdp-member-states/