24/7 Wall St. Insights

• Worldwide, arms exports account for about 0.03% of world GDP.
• In some nations, the share of GDP from arms exports is more than five times the global average.
• Many of the nations most dependent on arms exports are small, strategically-located nations in Europe with small standing armies.
• Some of the largest arms exports in recent years were arms transfers to Ukraine.
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War is one of the largest industries worldwide. While some war-torn nations maintain large defense sectors by necessity, many peaceful countries still profit heavily from war via arms manufacturing and export.

In 2022, global arms exports totaled about $32.1 billion, or 0.03% of world GDP. In some nations, however, the share of GDP from arms exports is more than five times the global average. Many of the nations most dependent on arms exports are small, strategically-located nations in Europe with relatively small standing armies. A closer look at the data reveals the countries whose economies are highly dependent on war.

To determine the countries incredibly dependent on war, 24/7 Wall St. reviewed data on GDP and arms exports from the World Bank and the Stockholm International Peace Research Institute. Countries were ranked based on the value of annual arms exports in 2022 as a percentage of national GDP. Supplemental data on annual arms imports, annual military expenditure, and individual arms transfers are also from SIPRI. Data on GDP is from the World Bank. All data are for the most recent period available.

30. Singapore

• Annual arms exports: $72.0 million ($14.36 in every $100,000 of GDP)
• Annual arms imports: $361.0 million ($71.99 in every $100,000 of GDP)
• Annual military expenditure: $13.2 billion (2.7% of GDP)
• Biggest recent arms transfers: 4 Fearless-75 patrol ships delivered to Oman in 2015, 4 KC-135 Stratotanker tanker/transport aircraft delivered to the United States in 2020, 4 Flex Fighter patrol boats delivered to Ghana in 2022, 72 SRAMS 120mm mortars delivered to the UAE in 2013, 2 Fearless patrol boats delivered to Brunei in 2023

29. Estonia

• Annual arms exports: $6.0 million ($14.73 in every $100,000 of GDP)
• Annual arms imports: $17.0 million ($41.72 in every $100,000 of GDP)
• Annual military expenditure: $1.2 billion (2.9% of GDP)
• Biggest recent arms transfers: 24 FH-70 155mm towed guns delivered to Ukraine in 2022, 31 D-30 122mm towed guns delivered to Ukraine in 2023, 30 M/41D 120mm mortars delivered to Ukraine in 2022, 50 Mistral portable SAMs delivered to Ukraine in 2024

28. Morocco

• Annual arms exports: $21.0 million ($14.88 in every $100,000 of GDP)
• Annual arms imports: $352.0 million ($249.45 in every $100,000 of GDP)
• Annual military expenditure: $5.2 billion (3.6% of GDP)
• Biggest recent arms transfers: 90 T-72B tanks delivered to Ukraine in 2022

27. Pakistan

• Annual arms exports: $53.0 million ($15.66 in every $100,000 of GDP)
• Annual arms imports: $1.6 billion ($462.51 in every $100,000 of GDP)
• Annual military expenditure: $8.5 billion (2.8% of GDP)
• Biggest recent arms transfers: 3 JF-17 Thunder FGA aircraft delivered to Nigeria in 2021, 52 MFI-17 Supporter trainer aircraft delivered to Turkiye in 2022, 10 MFI-17 Supporter trainer aircraft delivered to Azerbaijan in 2018, 12 MFI-17 Supporter trainer aircraft delivered to Iraq in 2023

26. Denmark

• Annual arms exports: $67.0 million ($16.58 in every $100,000 of GDP)
• Annual arms imports: $145.0 million ($35.87 in every $100,000 of GDP)
• Annual military expenditure: $8.1 billion (2.0% of GDP)
• Biggest recent arms transfers: 19 F-16C FGA aircraft delivered to Ukraine in 2024, 31 Scanter-6000 air/sea-search radars delivered to India in 2021, 4 StanFex-300 patrol boats delivered to Portugal in 2016, 4 Scanter-4603 air/sea-search radars delivered to Indonesia in 2022, 3 Scanter-4603 air/sea-search radars delivered to Senegal in 2023

25. Bulgaria

• Annual arms exports: $18.0 million ($17.72 in every $100,000 of GDP)
• Annual arms imports: $4.0 million ($3.94 in every $100,000 of GDP)
• Annual military expenditure: $1.9 billion (1.8% of GDP)
• Biggest recent arms transfers: 280 BMP-1 infantry fighting vehicles delivered to Iraq in 2015, 400 2B11 120mm mortars delivered to Iraq in 2014, 2,200 Fagot anti-tank missiles delivered to Saudi Arabia in 2015, 75 2B11 120mm mortars delivered to Nigeria in 2023, 31 T-55 tanks delivered to Uganda in 2022

24. Norway

• Annual arms exports: $88.0 million ($18.13 in every $100,000 of GDP)
• Annual arms imports: $848.0 million ($174.66 in every $100,000 of GDP)
• Annual military expenditure: $8.7 billion (1.6% of GDP)
• Biggest recent arms transfers: 1,500 NSM anti-ship missiles delivered to the United States in 2019, 32 F-16C FGA aircraft delivered to Romania in 2023, 10 NASAMS-2 SAM systems delivered to Oman in 2016, 7 NASAMS-2 SAM systems delivered to Hungary in 2023, 10 NASAMS-2 SAM systems delivered to Ukraine in 2024

23. Belgium

• Annual arms exports: $121.0 million ($19.14 in every $100,000 of GDP)
• Annual arms imports: $158.0 million ($24.99 in every $100,000 of GDP)
• Annual military expenditure: $7.6 billion (1.2% of GDP)
• Biggest recent arms transfers: 9 F-16C FGA aircraft delivered to Jordan in 2011, 119 MCT infantry fighting vehicle turrets delivered to Saudi Arabia in 2019, 25 Alpha Jet trainer/combat aircraft delivered to Canada in 2021, 7 C-130H Hercules transport aircraft delivered to Pakistan in 2022, 119 Cockerill-3105 105mm tank turrets delivered to Saudi Arabia in 2019

22. Switzerland

• Annual arms exports: $175.0 million ($19.78 in every $100,000 of GDP)
• Annual arms imports: $10.0 million ($1.13 in every $100,000 of GDP)
• Annual military expenditure: $6.3 billion (0.7% of GDP)
• Biggest recent arms transfers: 55 PC-21 trainer aircraft delivered to Saudi Arabia in 2014, 49 PC-21 trainer aircraft delivered to Australia in 2017, 309 Piranha-5 APCs delivered to Denmark in 2018, 24 PC-21 trainer aircraft delivered to Spain in 2021

21. Latvia

• Annual arms exports: $10.0 million ($22.92 in every $100,000 of GDP)
• Annual arms imports: $20.0 million ($45.84 in every $100,000 of GDP)
• Annual military expenditure: $1.0 billion (2.3% of GDP)
• Biggest recent arms transfers: 4 Mi-17 transport helicopters delivered to Ukraine in 2022, 6 M-109A5 155mm self-propelled guns delivered to Ukraine in 2022, 9 Spartan APCs delivered to Ukraine in 2024, 2 Mi-2 light helicopters delivered to Ukraine in 2022, 20 Stinger portable SAMs delivered to Ukraine in 2023

20. Netherlands

• Annual arms exports: $295.0 million ($26.38 in every $100,000 of GDP)
• Annual arms imports: $695.0 million ($62.16 in every $100,000 of GDP)
• Annual military expenditure: $16.6 billion (1.5% of GDP)
• Biggest recent arms transfers: 60 Gepard self-propelled anti-aircraft guns delivered to Jordan in 2014, 2 OPV-2600 patrol ships/frigates delivered to Pakistan in 2024, 1 SIGMA-105 frigate delivered to Mexico in 2020

19. Ukraine

• Annual arms exports: $50.0 million ($27.97 in every $100,000 of GDP)
• Annual arms imports: $2.6 billion ($1479.10 in every $100,000 of GDP)
• Annual military expenditure: $64.8 billion (36.7% of GDP)
• Biggest recent arms transfers: 15 An-148 transport aircraft delivered to Russia in 2013, 238 AI-222 turbofans delivered to China in 2013, 143 T-72B tanks delivered to Ethiopia in 2012, 49 T-84 Oplot tanks delivered to Thailand in 2014, 3 Il-78M tanker/transport aircraft delivered to China in 2014

18. Iran

• Annual arms exports: $123.0 million ($30.63 in every $100,000 of GDP)
• Annual arms imports: ($ in every $100,000 of GDP)
• Annual military expenditure: $10.3 billion (2.1% of GDP)
• Biggest recent arms transfers: 6,600 Shahed-136 one-way attack drones delivered to Russia in 2022, 6 Peykaap missile boats delivered to Venezuela in 2023, 25 Qiam-1 surface-to-surface missiles delivered to Houthi rebels (Yemen) in 2016, 7 Su-25 ground-attack aircraft delivered to Iraq in 2014

17. Germany

• Annual arms exports: $1.5 billion ($33.89 in every $100,000 of GDP)
• Annual arms imports: $182.0 million ($4.08 in every $100,000 of GDP)
• Annual military expenditure: $66.8 billion (1.5% of GDP)
• Biggest recent arms transfers: 4 MEKO-A200 frigates delivered to Egypt in 2022, 4 MEKO PC-IN frigates delivered to Israel in 2022, 2 Type-218 submarines delivered to Singapore in 2023, 2 MEKO-A200 frigates delivered to Algeria in 2016, 155 EC145 light helicopters delivered to the United States in 2015

16. Czechia

• Annual arms exports: $116.0 million ($35.06 in every $100,000 of GDP)
• Annual arms imports: $69.0 million ($20.85 in every $100,000 of GDP)
• Annual military expenditure: $5.1 billion (1.5% of GDP)
• Biggest recent arms transfers: 9 L-159A ALCA FGA aircraft delivered to Iraq in 2015, 21 L-159A ALCA FGA aircraft delivered to the United States in 2015, 60 T-72M1 tanks delivered to Iraq in 2014, 4 VERA-E air-search systems delivered to Ukraine in 2024

15. Turkey

• Annual arms exports: $398.0 million ($35.92 in every $100,000 of GDP)
• Annual arms imports: $184.0 million ($16.61 in every $100,000 of GDP)
• Annual military expenditure: $15.8 billion (1.5% of GDP)
• Biggest recent arms transfers: 4 MilGem frigates delivered to Pakistan in 2023, 6 Dearsan 33m FAC missile boats delivered to Turkmenistan in 2015, 145 Pars IFV-25 infantry fighting vehicles delivered to Oman in 2018, 8 YTBK patrol boats delivered to Turkmenistan in 2013

14. Lithuania

• Annual arms exports: $29.0 million ($37.26 in every $100,000 of GDP)
• Annual arms imports: $98.0 million ($125.91 in every $100,000 of GDP)
• Annual military expenditure: $2.2 billion (2.7% of GDP)
• Biggest recent arms transfers: 2 S-125-ML SAM systems delivered to Angola in 2018, 1 A319 transport aircraft delivered to Pakistan in 2022, 82 M-113 APCs delivered to Ukraine in 2022, 2 Mi-17 transport helicopters delivered to Ukraine in 2023, 18 M-101A1 105mm towed guns delivered to Ukraine in 2022

13. United Kingdom

• Annual arms exports: $1.5 billion ($45.03 in every $100,000 of GDP)
• Annual arms imports: $799.0 million ($23.92 in every $100,000 of GDP)
• Annual military expenditure: $74.9 billion (2.3% of GDP)
• Biggest recent arms transfers: 24 Typhoon Block-20 FGA aircraft delivered to Qatar in 2022, 179 air refueling systems delivered to the United States in 2019, 12 Typhoon Block-20 FGA aircraft delivered to Oman in 2017, 3 Brunei frigates delivered to Indonesia in 2014, 57 Hawk-100 trainer/combat aircraft delivered to India in 2013

12. United States

• Annual arms exports: $14.5 billion ($53.05 in every $100,000 of GDP)
• Annual arms imports: $837.0 million ($3.06 in every $100,000 of GDP)
• Annual military expenditure: $916.0 billion (3.4% of GDP)
• Biggest recent arms transfers: 84 F-15 Advanced Eagle FGA aircraft delivered to Saudi Arabia in 2016, 68 F-15 Advanced Eagle FGA aircraft delivered to Saudi Arabia in 2016, 36 F-15 Advanced Eagle FGA aircraft delivered to Qatar in 2021, 42 F-35A Lightning-2 FGA aircraft delivered to Japan in 2016

11. Slovakia

• Annual arms exports: $71.0 million ($53.47 in every $100,000 of GDP)
• Annual arms imports: $2.0 million ($1.51 in every $100,000 of GDP)
• Annual military expenditure: $2.7 billion (2.0% of GDP)
• Biggest recent arms transfers: 13 MiG-29S FGA aircraft delivered to Ukraine in 2023, 36 DANA 152mm self-propelled guns delivered to Azerbaijan in 2017, 45 5V55U SAMs delivered to Ukraine in 2022, 42 M12 120mm mortars delivered to Saudi Arabia in 2019

10. Slovenia

• Annual arms exports: $38.0 million ($55.70 in every $100,000 of GDP)
• Annual arms imports: $9.0 million ($13.19 in every $100,000 of GDP)
• Annual military expenditure: $907.5 million (1.3% of GDP)
• Biggest recent arms transfers: 28 M-55S tanks delivered to Ukraine in 2022, 38 M-80 infantry fighting vehicles delivered to Ukraine in 2022, 2 TPS-70 air-search radars delivered to Serbia in 2016, 20 Pandur APCs delivered to Ukraine in 2023, 20 BOV APCs delivered to Ukraine in 2024

9. Poland

• Annual arms exports: $452.0 million ($55.72 in every $100,000 of GDP)
• Annual arms imports: $639.0 million ($78.77 in every $100,000 of GDP)
• Annual military expenditure: $31.6 billion (3.8% of GDP)
• Biggest recent arms transfers: 270 T-72M1 tanks delivered to Ukraine in 2022, 54 Krab 155mm self-propelled guns delivered to Ukraine in 2022, 400 BMP-1 infantry fighting vehicles delivered to Ukraine in 2022, 14 MiG-29 fighter aircraft delivered to Ukraine in 2023, 21 MiG-21bis fighter aircraft delivered to the United States in 2013

8. Spain

• Annual arms exports: $950.0 million ($60.10 in every $100,000 of GDP)
• Annual arms imports: $173.0 million ($10.94 in every $100,000 of GDP)
• Annual military expenditure: $23.7 billion (1.5% of GDP)
• Biggest recent arms transfers: 5 Avante-2200 frigates delivered to Saudi Arabia in 2022, 1 BPE amphibious assault ship delivered to Turkiye in 2023, 16 C-295MPA maritime patrol aircraft delivered to Canada in 2019, 2 Cantabria replenishment ships delivered to Australia in 2021, 19 Mirage F-1M FGA aircraft delivered to the United States in 2019

7. Belarus

• Annual arms exports: $57.0 million ($79.32 in every $100,000 of GDP)
• Annual arms imports: $225.0 million ($313.12 in every $100,000 of GDP)
• Annual military expenditure: $1.4 billion (1.8% of GDP)
• Biggest recent arms transfers: 5 Il-76M heavy transport aircraft delivered to China in 2013, 20 Vostok-E air-search radars delivered to Vietnam in 2017, 8 Su-24 bomber aircraft delivered to Sudan in 2013, 93 T-72M1 tanks delivered to Azerbaijan in 2011, 2 Buk-1M SAM systems delivered to Azerbaijan in 2013

6. Italy

• Annual arms exports: $1.8 billion ($80.94 in every $100,000 of GDP)
• Annual arms imports: $236.0 million ($10.47 in every $100,000 of GDP)
• Annual military expenditure: $35.5 billion (1.6% of GDP)
• Biggest recent arms transfers: 28 Typhoon Block-20 FGA aircraft delivered to Kuwait in 2021, 4 Fincantieri-3000 frigates delivered to Qatar in 2021, 2 FREMM frigates delivered to Egypt in 2020, 30 M-346 Master trainer/combat aircraft delivered to Israel in 2014, 130 AW119 Koala light helicopters delivered to the United States in 2021

5. France

• Annual arms exports: $3.0 billion ($99.67 in every $100,000 of GDP)
• Annual arms imports: $22.0 million ($0.73 in every $100,000 of GDP)
• Annual military expenditure: $61.3 billion (2.1% of GDP)
• Biggest recent arms transfers: 36 Rafale FGA aircraft delivered to India in 2019, 24 Rafale FGA aircraft delivered to Egypt in 2015, 49 Mirage-2000-5 FGA aircraft delivered to India in 2015, 4 Gowind-2500 frigates delivered to Egypt in 2017

4. Jordan

• Annual arms exports: $51.0 million ($100.37 in every $100,000 of GDP)
• Annual arms imports: $32.0 million ($62.98 in every $100,000 of GDP)
• Annual military expenditure: $2.5 billion (4.9% of GDP)
• Biggest recent arms transfers: 60 Gepard self-propelled anti-aircraft guns delivered to Ukraine in 2024, 13 F-16(ADF) FGA aircraft delivered to Pakistan in 2014, 14 Mirage F-1E FGA aircraft delivered to the United States in 2020, 21 F-5E Tiger-2 FGA aircraft delivered to the United States in 2016, 2 Il-76MF transport aircraft delivered to Egypt in 2019

3. Russia

• Annual arms exports: $2.8 billion ($139.51 in every $100,000 of GDP)
• Annual arms imports: $129.0 million ($6.38 in every $100,000 of GDP)
• Annual military expenditure: $109.5 billion (5.9% of GDP)
• Biggest recent arms transfers: 42 Su-30MK FGA aircraft delivered to India in 2013, 50 MiG-29M FGA aircraft delivered to Egypt in 2017, 24 Su-35S FGA aircraft delivered to China in 2016, 29 MiG-29SMT FGA aircraft delivered to India in 2012

2. Israel

• Annual arms exports: $831.0 million ($162.97 in every $100,000 of GDP)
• Annual arms imports: $829.0 million ($162.58 in every $100,000 of GDP)
• Annual military expenditure: $27.5 billion (5.3% of GDP)
• Biggest recent arms transfers: 6 OPV-62 missile boats delivered to Azerbaijan in 2015, 250 Litening aircraft electro-optical systems delivered to the United States in 2011, 29 F-16A FGA aircraft delivered to the United States in 2021, 5 SPYDER-MR SAM systems delivered to Vietnam in 2016

1. North Macedonia

• Annual arms exports: $31.0 million ($210.01 in every $100,000 of GDP)
• Annual arms imports: $6.0 million ($40.65 in every $100,000 of GDP)
• Annual military expenditure: $266.6 million (1.7% of GDP)
• Biggest recent arms transfers: 12 Mi-24V/Mi-35 combat helicopters delivered to Ukraine in 2023, 30 T-72M1 tanks delivered to Ukraine in 2022, 4 Su-25 ground-attack aircraft delivered to Ukraine in 2023

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