NATO’s latest defense spending figures released today shows that NATO countries in Europe will invest a total of 380 billion US dollars in defense in 2024. For the first time since 2014, this amounts to 2% of their combined GDP.
18 out of 29 NATO Europe countries are expected to meet the 2% GDP target in 2024, NATO said.
In 2024, NATO Europe’s defense spending amounted to $380 billion, which represents approximately 32.8% of NATO’s total defense expenditure of $1,159 billion.
In 2014, the share was 25.8%, given NATO’s total defense expenditure of $910 billion.