EU's defense expenditures totaled three hundred eighty billion dollars
(MENAFN) The European Union’s defense spending reached €343 billion ($380 billion) in 2024, according to figures released Tuesday by the European Defense Agency (EDA).
The total marked a 19% increase compared to the previous year, driven largely by record equipment purchases and higher allocations for research and development. The agency said the surge highlighted member states’ resolve to boost military capacity amid shifting security challenges.
Defense expenditure accounted for 1.9% of the EU’s GDP last year. For the first time, defense-related investments topped $100 billion, representing 31% of the overall military budget.
Kaja Kallas, the agency’s chief, said: "Europe is spending record amounts on defence to keep our people safe, and we will not stop there."
Looking ahead, the EDA projected that defense expenditures across the 27-member bloc will rise to €381 billion in 2025, or about 2.1% of GDP.
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