Special Report

See How Russia and Ukraine Military Spending Compares to the World

Source: mtcurado / iStock Unreleased via Getty Images

40. Portugal
> Military spending, 2020: $4.6 billion (2.1% of GDP)
> Military and paramilitary personnel: 52,000 (1.0% of labor force)
>Total population: 10,305,564

Source: Public Domain / Wikimedia Commons

39. Morocco
> Military spending, 2020: $4.8 billion (4.3% of GDP)
> Military and paramilitary personnel: 246,000 (2.0% of labor force)
>Total population: 36,910,558

Source: Plougmann / iStock Unreleased via Getty Images

38. Denmark
> Military spending, 2020: $5.0 billion (1.4% of GDP)
> Military and paramilitary personnel: 15,000 (0.5% of labor force)
>Total population: 5,831,404

Source: SanerG / iStock via Getty Images

37. Greece
> Military spending, 2020: $5.3 billion (2.8% of GDP)
> Military and paramilitary personnel: 147,000 (3.1% of labor force)
>Total population: 10,715,549

Source: Alexandros Michailidis / iStock Editorial via Getty Images

36. Belgium
> Military spending, 2020: $5.5 billion (1.1% of GDP)
> Military and paramilitary personnel: 26,000 (0.5% of labor force)
>Total population: 11,555,997

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.