NATO Military Spending by Country: Top 5 Countries

3. Lithuania

Military spending as share of GDP: 2.47%

Lithuania raised its military funding in 2022 by nearly 30% compared to 2021. As a result, it is estimated to have spent 2.47% of its GDP on defense, which includes a $495 million dollar deal to buy HIMARS from Lockheed Martin Corporation (NYSE:LMT). Northrop Grumman Corporation (NYSE:NOC) announced in June this year that it had successfully fielded its FAAD C2 System to modernize Lithuania’s air defense capabilities.