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The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies .
During his speech, Hunt confirmed that the Office for Budget Responsibility had predicted the UK would avoid entering recession during 2023, but that the economy would shrink by 0.2%. Economic growth of 1.8% was predicted for 2024, rising to 2.5% in 2025 then falling slightly to 2.1% in 2026.
The share of total expenditure, the average defence spending was 2.5 % in 2021 in the EU and 2.4% in the euro area. As a share of GDP the average was 1.3% in the EU and in the euro area. [1] Total defence expenditure of the European Defence Agency (EDA) Member States was €279 billion in 2023, which was 1.6% of the 27 EDA Member States’ GDP. [2]
In 2023, 11 Nato countries met this pledge, including the UK, the US and Poland. The latest annual report from Nato Secretary General Jens Stoltenberg suggests that in 2024, this number is likely ...
The UK’s defence budget could face billions of pounds worth of cuts if Donald Trump imposes tariffs on the UK, a new forecast has warned.. Mr Trump, who was sworn in as president on Monday ...
Brings UK military spending to 2.25% of GDP by 2025, says chancellor. For premium support please call: 800-290-4726 more ways to reach us
An additional £6 billion investment was announced as part of the 2023 budget for a total investment of £11 billion to be made over the next five years. The government stated its ambition was to raise defence spending from 2.2% to 2.5% of GDP "once fiscal and economic conditions allow". [44]
That would mean that UK defence spending reaches around £87.1 billion in the year ending March 2031, some £23 billion higher than in the year ending March 2025.