Arms exports are a vital industry worldwide, generating about $32.1 billion in 2022, which is only 0.03% of global GDP. However, several small, strategically-located European countries derive a much larger share of their GDP from arms exports, highlighting a unique economic dependency. A comprehensive review of data from the World Bank and the Stockholm International Peace Research Institute provides insight into how these nations, despite their small military sizes, thrive on arms manufacturing and export during times of global conflict, particularly observing significant arms transfers, such as to Ukraine.
In 2022, global arms exports reached $32.1 billion, accounting for only 0.03% of world GDP, yet certain small countries rely heavily on this sector.
Countries dependent on arms exports include small, strategically-located European nations, some with standing armies far smaller than their arms production might suggest.
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