NATO Military Spending by Country: Top 5 Countries

1. Greece

Military spending as share of GDP: 3.54%

Greece tops the list of military spending by country for NATO members. It is estimated to have spent 3.54% of its GDP on defense expenditure in 2022. According to data released by NATO on military spending of its members between 2014 and 2022, Greece, the United Kingdom, and the United States have been the only three countries to have spent more than 2% of their GDPs on defense to meet NATO’s goal every year in this timespan of eight years. In June last year, Greece formally communicated to the US to purchase 20 F-35 fighter jets from Lockheed Martin Corporation (NYSE:LMT). Earlier, Athens had ordered 24 Rafale jets and three navy frigates from France worth 2.5 billion euros and 3 billion euros, respectively.

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