European defence spending surges
NATO’s European members have rallied to the U.S. call to increase defence spending since Russia’s invasion of Ukraine, with Europe's aerospace and defence index gaining 55% over the past year
Poland
Lithuania
Latvia
Estonia
Norway
U.S.
Denmark
Greece
Finland
Sweden
Netherlands
UK
Türkiye
Romania
Bulgaria
Hungary
France
Slovakia
Croatia, Montenegro
Slovenia
Albania, Italy
U.S.
$980bn
Germany
(2024)
94
UK
91
France
67
Italy
49
44
Poland
36
33
28
16
15
14
14
9
9
8
7
6
5
4
3
2
7
Türkiye
Spain
Netherlands
Sweden
Norway
Greece
Czechia
Portugal
Hungary
Slovakia
Lithuania
Bulgaria
Others
Finland
Romania
Belgium
Denmark
EUROPEAN DEFENCE SPENDING (% OF GDP)
U.S. $ billions
4.48
4.0
3.73
3.35
3.22
3.22
2.85
2.77
2.51
2.49
2.40
2.33
2.28
2.06
2.06
2.05
2.04
2.03
2.02
2.01
2.0
3.38
Germany, N. Macedonia, Belgium, Czechia, Portugal, Spain, Luxembourg
Sweden’s Saab Gripen
2005
Expenditure
Investment
2005
2010
2015
2020
2025
2022: Russia
invades Ukraine
2025
€381bn
€130bn
€219bn
€37bn
0
100
200
300
400
Sources: Reuters, NATO, European Council
Picture: Getty Images
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