Spain increases its military spending by 50% and exceeds 2% of GDP after two decades

Copenhagen.- Spain increased its military spending by 50% last year to $40.2 billion (€34.265 billion), the Stockholm International Peace Research Institute (SIPRI) noted in a report on Monday. SIPRI highlighted that it is the first time since 1994 that the amount allocated to armaments exceeds 2% of the Spanish gross domestic product (GDP) (2.1% in this case). The rise in Spanish military spending is part of a general increase in all NATO member European countries, pressured by the United States and in the context of the war in Ukraine, which caused investment on the continent to reach 864,000 million dollars (736,000 million euros), 14% more.

The Biggest Growth Since the Cold War

This is the largest annual growth in military spending in Central and Western Europe since the end of the Cold War. In the last decade, Spanish military spending increased by 122%, according to SIPRI.

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Spain ranks 15th globally, two places up from 2024, with 1.4% of global military spending. The report reflects a 2.9% increase in global military spending in real terms last year, due to increased investment in Europe and Asia-Oceania, despite the fall in the United States. The total figure rose to $2.89 trillion (€2.45 trillion), the highest level since 2009 and equivalent to 2.5% of global gross domestic product (GDP).