Canada Military Budget Gdp

Canada's Defense Spending Surges, Reaching NATO Target

Canada Military Spending on the Rise

Canada's military spending is on an upward trajectory, with the defense budget for 2021 reaching $26.45 billion, a 13.61% increase from 2020. This followed a 3.96% increase from 2019, where the defense budget stood at $23.28 billion.

NATO Contributions and Spending Share

Canada is a significant contributor to NATO, accounting for 1.32% of its GDP in defense spending. As part of the NATO agreement, member states aim for a target of 2% GDP allocation for defense. According to NATO figures, Canada's defense budget for 2023 is estimated to be $36.7 billion, representing 1.29% of GDP.

Target of 1.76% GDP Spending

Canada's defense spending as a percentage of GDP is expected to continue rising, reaching 1.76% by 2029-30. This marks a significant step towards meeting the NATO commitment of 2%. In 2022, Canada's defense spending as a percentage of GDP stood at 1.29%, comparable to levels seen in the late 1990s, as reported by the North Atlantic Treaty Organization.