Eastern and central European countries are ramping up investments faster, but the EDA warns that without more EU collaboration, more money alone won't be enough.

European Union defence spending has reached a new record, with investments totaling 343 billion euros in 2024, marking a 19% increase from the previous year. Poland stands out by allocating nearly 4% of its GDP to defence, the highest among EU nations, while other countries such as Latvia, Denmark, the Czech Republic, Germany, Romania, and Sweden have also significantly increased their defence budgets.

The largest portion of the budget is dedicated to military hardware, which saw a 39% rise from the previous year. Spending on defence research and development also increased, reaching 13 billion euros. The European Defence Agency projects that member states could collectively exceed the 2% NATO guideline in the coming year, with total expenditure potentially reaching 381 billion euros.

Which EU countries are on course to hit NATO's 3.5% of GDP target?

EU defence spending has hit a new record. European countries have never spent so much on defence. In 2024, investments reached a new high, 343 billion euros. That's a 19% jump from 2023. The cost for each EU citizen has been estimated at 764 euros. Across the bloc, Poland has notably ramped up its defence investment, taking it to nearly 4% of its GDP, more than any other EU nation. Other significant jumps were seen in Latvia, Denmark, the Czech Republic, Germany, Romania and Sweden. Military hardware accounts for the largest section of the budget, 88 billion euros. Again, that's a record 39% increase from 2023. Defence research and development spending soared too, to reach 13 billion euros. The European Defence Agency estimates that next year, member states could surpass the 2% NATO guideline to reach a global 381 billion euros expenditure.

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Milan

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Cambridge

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Moscow

Ukraine Invasion

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Kunar

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Lisbon

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Washington

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Trump says U.S. struck drug-carrying boat from Venezuela

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Beijing

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Tianjin

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Kabul

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Global Tariffs

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Chicago

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Barcelona

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Breakdown