Europe’s Wealth Powerhouse: Switzerland’s $864 Billion Reserve Leads Continent

By Chris Lange Published Sep 4, 12:30PM EDT

Key Points

Switzerland may only be a small central European nation by population, but its financial reserves are unmatched across the continent
With $864 billion in foreign exchange and gold holdings, this small nation surpasses even Europe’s largest economies in the sheer size of its reserves
However, other major European powers have sizable holdings as well

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Europe’s Wealth Powerhouse: Switzerland’s $864 Billion Reserve Leads Continent — © Diy13 / iStock via Getty Images

Switzerland may only be a small central European nation by population, but its financial reserves are unmatched across the continent. With $864 billion in foreign exchange and gold holdings, this small nation surpasses even Europe’s largest economies in the sheer size of its reserves. Switzerland’s role as a global financial hub is further reinforced by these holdings. However, other major European powers have sizable holdings as well. Here, 24/7 Wall St. is taking a closer look at European nations with the largest foreign exchange and gold reserves.

To determine the European countries with the most foreign exchange and gold reserves, 24/7 Wall St. reviewed 2025 Military Strength Ranking from Global Firepower, an annually updated defense-related statistics website with information on 145 countries. Global Firepower ranked 145 countries based on their PowerIndex, a composite of over 60 measures in categories such as military might, financials, logistical capability, and geography. The smaller the PowerIndex value the more powerful a nation’s theoretical conventional fighting capability is. We ranked these countries based on their foreign exchange and gold reserves. We also included supplemental information regarding purchasing power parity, defense budgets, external debt, a composition of military assets, as well as the overall military strength score.

Here is a look at the military powers with the most foreign exchange and gold reserves in Europe:

Why Are We Covering This?

Understanding the military dynamics in Europe is important considering the continent’s deeply rooted geopolitical challenges going forward. Historically, Europe has been marked by wars, shifting alliances, and territorial disputes, and yet it still remains a key player on the global stage. At the same time, alliances like the EU or NATO are some of the most powerful in terms of their influence on the world. Whether it is a question of NATO’s expansion or Russia’s campaign in Eastern Europe, these military forces tilt the region’s balance of power.

38. Kosovo

Foreign exchange and gold reserves: $1,245,000,000
Purchasing power parity: $23,794,000,000
Military defense budget: $260,715,150 – #128 out of 145
External debt: $2,750,000,000
Total military aircraft: 0
Total military vehicles: 737
Total naval vessels: 0
Military strength score and world rank: 4.9141 – #144 out of 145

Kosovo also has 15,500 total military personnel, which is composed of 10,000 active personnel, 5,000 reserves, and 500 paramilitary forces. At the same time, it has a total population of 1.977 million, and of these 743,387 are fit for military service.

37. Montenegro

Montenegro | Kotor in a beautiful summer day, Montenegro

Foreign exchange and gold reserves: $1,574,000,000
Purchasing power parity: $17,115,000,000
Military defense budget: $148,100,000 – #136 out of 145
External debt: $2,958,500,000
Total military aircraft: 11
Total military vehicles: 471
Total naval vessels: 14
Military strength score and world rank: 2.9216 – #127 out of 145

Montenegro also has 7,850 total military personnel, which is composed of 2,350 active personnel and 5,500 paramilitary forces. At the same time, it has a total population of 599,849, and of these 85,179 are fit for military service.

36. Slovenia

Foreign exchange and gold reserves: $2,370,000,000
Purchasing power parity: $102,036,000,000
Military defense budget: $886,860,000 – #91 out of 145
External debt: $55,000,000,000
Total military aircraft: 39
Total military vehicles: 1,428
Total naval vessels: 2
Military strength score and world rank: 2.1016 – #96 out of 145

Slovenia also has 38,300 total military personnel, which is composed of 7,300 active personnel, 26,000 reserves, and 5,000 paramilitary forces. At the same time, it has a total population of 2.098 million, and of these 826,570 are fit for military service.

35. Estonia

Foreign exchange and gold reserves: $2,593,000,000
Purchasing power parity: $57,377,000,000
Military defense budget: $1,463,360,000 – #77 out of 145
External debt: $26,400,000,000
Total military aircraft: 5
Total military vehicles: 1,685
Total naval vessels: 8
Military strength score and world rank: 2.2917 – #107 out of 145

Estonia also has 96,500 total military personnel, which is composed of 7,700 active personnel, 78,800 reserves, and 10,000 paramilitary forces. At the same time, it has a total population of 1.194 million, and of these 456,028 are fit for military service.

34. Luxembourg

Vianden. Luxembourg. Medieval castle. Aerial photo

Foreign exchange and gold reserves: $2,977,000,000
Purchasing power parity: $88,533,000,000
Military defense budget: $726,092,925 – #98 out of 145
External debt: $4,730,000,000,000
Total military aircraft: 1
Total military vehicles: 182
Total naval vessels: 0
Military strength score and world rank: 2.6415 – #117 out of 145

Luxembourg also has 1,000 total military personnel, all of which is composed of active-duty personnel, with no reserves or paramilitary forces. At the same time, it has a total population of 671,254, and of these 92,633 are fit for military service.

33. Croatia

The aerial view of Dubrovnik, a city in southern Croatia fronting the Adriatic Sea, Europe. Old city center of famous town Dubrovnik, Croatia. Dubrovnik historic city of Croatia in Dalmatia.

Foreign exchange and gold reserves: $3,176,000,000
Purchasing power parity: $159,305,000,000
Military defense budget: $1,176,000,000 – #83 out of 145
External debt: $55,000,000,000
Total military aircraft: 67
Total military vehicles: 2,848
Total naval vessels: 30
Military strength score and world rank: 1.5074 – #75 out of 145

Croatia also has 36,425 total military personnel, which is composed of 14,325 active personnel, 20,100 reserves, and 2,000 paramilitary forces. At the same time, it has a total population of 4.150 million, and of these 1,564,594 are fit for military service.

32. Latvia

Foreign exchange and gold reserves: $4,957,000,000
Purchasing power parity: $71,154,000,000
Military defense budget: $1,138,000,000 – #84 out of 145
External debt: $44,180,400,000
Total military aircraft: 7
Total military vehicles: 1,848
Total naval vessels: 18
Military strength score and world rank: 2.1246 – #99 out of 145

Latvia also has 65,750 total military personnel, which is composed of 17,250 active personnel, 36,000 reserves, and 12,500 paramilitary forces. At the same time, it has a total population of 1.801 million, and of these 648,449 are fit for military service.

31. North Macedonia

Foreign exchange and gold reserves: $5,015,000,000
Purchasing power parity: $42,444,000,000
Military defense budget: $388,421,700 – #114 out of 145
External debt: $11,000,000,000
Total military aircraft: 20
Total military vehicles: 1,108
Total naval vessels: 0
Military strength score and world rank: 2.4042 – #112 out of 145

North Macedonia also has 7,250 total military personnel, which is composed of 9,000 active personnel, 60,000 reserves, and 3,500 paramilitary forces. At the same time, it has a total population of 2.136 million, and of these 783,773 are fit for military service.

30. Moldova

Moldova | Above Chisinau at sunset. Chisinau is the capital city of Republic of Moldova

Foreign exchange and gold reserves: $5,453,000,000
Purchasing power parity: $38,969,000,000
Military defense budget: $1,710,000,000 – #73 out of 145
External debt: $4,565,500,000
Total military aircraft: 3
Total military vehicles: 500
Total naval vessels: 0
Military strength score and world rank: 3.2555 – #134 out of 145

Moldova also has 77,500 total military personnel, which is composed of 8,500 active personnel, 67,000 reserves, and 2,000 paramilitary forces. At the same time, it has a total population of 3.600 million, and of these 1,792,565 are fit for military service.

29. Iceland

Iceland | Reykjavik capital city of iceland

Foreign exchange and gold reserves: $5,809,000,000
Purchasing power parity: $26,155,000,000
Military defense budget: $312,400,000 – #121 out of 145
External debt: $22,000,000,000
Total military aircraft: 0
Total military vehicles: 150
Total naval vessels: 0
Military strength score and world rank: 3.5181 – #135 out of 145

Iceland has a total population of 364,036, and of these 50,237 are fit for military service.

28. Lithuania

Foreign exchange and gold reserves: $6,168,000,000
Purchasing power parity: $132,712,000,000
Military defense budget: $2,388,900,000 – #66 out of 145
External debt: $44,000,000,000
Total military aircraft: 9
Total military vehicles: 1,263
Total naval vessels: 14
Military strength score and world rank: 1.9075 – #88 out of 145

Lithuania also has 141,150 total military personnel, which is composed of 23,000 active personnel, 104,000 reserves, and 14,150 paramilitary forces. At the same time, it has a total population of 2.628 million, and of these 1,332,490 are fit for military service.

27. Albania

Foreign exchange and gold reserves: $6,455,000,000
Purchasing power parity: $49,592,000,000
Military defense budget: $558,862,420 – #101 out of 145
External debt: $7,312,000,000
Total military aircraft: 19
Total military vehicles: 1,796
Total naval vessels: 19
Military strength score and world rank: 1.6815 – #78 out of 145

Albania also has 9,100 total military personnel, which is composed of 6,600 active personnel, 2,000 reserves, and 500 paramilitary forces. At the same time, it has a total population of 3.107 million, and of these 1,292,554 are fit for military service.

26. Belarus

Belarusian tourist landmark attraction Nesvizh Castle - medieval castle in autumn. Nesvizh, Belarus

Foreign exchange and gold reserves: $8,118,000,000
Purchasing power parity: $254,407,000,000
Military defense budget: $1,077,900,000 – #87 out of 145
External debt: $44,000,000,000
Total military aircraft: 185
Total military vehicles: 6,916
Total naval vessels: 0
Military strength score and world rank: 1.3954 – #70 out of 145

Belarus also has 263,000 total military personnel, which is composed of 63,000 active personnel, 145,000 reserves, and 55,000 paramilitary forces. At the same time, it has a total population of 9.501 million, and of these 3,724,569 are fit for military service.

25. Bosnia and Herzegovina

Bosnia+and+Herzegovina+tourism | Bosnia and Herzegovina-02232 - Old Bridge

Foreign exchange and gold reserves: $9,205,000,000
Purchasing power parity: $63,769,000,000
Military defense budget: $216,400,000 – #131 out of 145
External debt: $7,760,500,000
Total military aircraft: 22
Total military vehicles: 720
Total naval vessels: 0
Military strength score and world rank: 3.0799 – #131 out of 145

Bosnia and Herzegovina also has 18,770 total military personnel, which is composed of 12,770 active personnel and 6,000 reserves. At the same time, it has a total population of 3.799 million, and of these 1,956,316 are fit for military service.

24. Slovakia

Foreign exchange and gold reserves: $11,288,000,000
Purchasing power parity: $213,053,000,000
Military defense budget: $2,656,000,000 – #64 out of 145
External debt: $127,600,000,000
Total military aircraft: 41
Total military vehicles: 3,074
Total naval vessels: 0
Military strength score and world rank: 1.3978 – #71 out of 145

Slovakia also has 19,500 total military personnel, all of which is composed of 19,500 active personnel, with no reserves or paramilitary forces. At the same time, it has a total population of 5.564 million, and of these 2,353,424 are fit for military service.

23. Ireland

Dublin+Ireland+tourism | Grafton Street, Dublin, Éire

Foreign exchange and gold reserves: $12,905,000,000
Purchasing power parity: $608,463,000,000
Military defense budget: $1,500,000,000 – #76 out of 145
External debt: $3,300,000,000,000
Total military aircraft: 22
Total military vehicles: 1,712
Total naval vessels: 8
Military strength score and world rank: 2.1103 – #97 out of 145

Ireland also has 9,465 total military personnel, which is composed of 7,765 active personnel and 1,700 reserves. At the same time, it has a total population of 5.233 million, and of these 1,999,182 are fit for military service.

22. Greece

Greece+view | File:Kallikratia, Chalkidiki, Greece - View on city.jpg

Foreign exchange and gold reserves: $13,608,000,000
Purchasing power parity: $375,780,000,000
Military defense budget: $6,500,000,000 – #44 out of 145
External debt: $550,000,000,000
Total military aircraft: 558
Total military vehicles: 61,888
Total naval vessels: 192
Military strength score and world rank: 0.5337 – #30 out of 145

Greece also has 419,050 total military personnel, which is composed of 142,700 active personnel, 221,350 reserves, and 55,000 paramilitary forces. At the same time, it has a total population of 10.46 million, and of these 3,985,676 are fit for military service.

21. Finland

Foreign exchange and gold reserves: $16,929,000,000
Purchasing power parity: $321,126,000,000
Military defense budget: $6,779,661,000 – #42 out of 145
External debt: $660,000,000,000
Total military aircraft: 163
Total military vehicles: 11,704
Total naval vessels: 264
Military strength score and world rank: 0.8437 – #48 out of 145

Finland also has 947,800 total military personnel, which is composed of 24,000 active personnel, 870,000 reserves, and 53,800 paramilitary forces. At the same time, it has a total population of 5.626 million, and of these 1,912,981 are fit for military service.

20. Serbia

Serbia | Serbia-0364 - Entering Belgrade

Foreign exchange and gold reserves: $27,569,000,000
Purchasing power parity: $162,213,000,000
Military defense budget: $2,287,461,000 – #68 out of 145
External debt: $35,200,000,000
Total military aircraft: 110
Total military vehicles: 3,683
Total naval vessels: 0
Military strength score and world rank: 1.2576 – #63 out of 145

Serbia also has 627,000 total military personnel, which is composed of 25,000 active personnel, 2,000 reserves, and 600,000 paramilitary forces. At the same time, it has a total population of 6.652 million, and of these 2,574,406 are fit for military service.

19. Austria

Foreign exchange and gold reserves: $31,212,000,000
Purchasing power parity: $590,354,000,000
Military defense budget: $5,475,750,000 – #47 out of 145
External debt: $630,000,000,000
Total military aircraft: 85
Total military vehicles: 7,322
Total naval vessels: 0
Military strength score and world rank: 1.3704 – #68 out of 145

Austria also has 141,600 total military personnel, which is composed of 16,000 active personnel and 125,600 reserves. At the same time, it has a total population of 8.968 million, and of these 3,632,033 are fit for military service.

18. Ukraine

Flag of the European Union and Ukraine. Embassy of Ukraine. Flag of the country. International organization. A democratic country.

Foreign exchange and gold reserves: $40,510,000,000
Purchasing power parity: $559,981,000,000
Military defense budget: $53,700,000,000 – #10 out of 145
External debt: $132,000,000,000
Total military aircraft: 324
Total military vehicles: 18,920
Total naval vessels: 89
Military strength score and world rank: 0.3755 – #21 out of 145

Ukraine also has 2,200,000 total military personnel, which is composed of 900,000 active personnel, 1,200,000 reserves, and 100,000 paramilitary forces. At the same time, it has a total population of 35.66 million, and of these 12,731,272 are fit for military service.

17. Belgium

Royal Palace of Brussels, Palais royal de Bruxelles, located in Brussels, Belgium

Foreign exchange and gold reserves: $40,813,000,000
Purchasing power parity: $751,592,000,000
Military defense budget: $10,200,000,000 – #31 out of 145
External debt: $1,449,264,300,000
Total military aircraft: 108
Total military vehicles: 4,606
Total naval vessels: 9
Military strength score and world rank: 1.2564 – #62 out of 145

Belgium also has 31,400 total military personnel, which is composed of 25,000 active personnel and 6,400 reserves. At the same time, it has a total population of 11.98 million, and of these 3,880,753 are fit for military service.

16. Hungary

Foreign exchange and gold reserves: $45,719,000,000
Purchasing power parity: $388,906,000,000
Military defense budget: $4,576,000,000 – #53 out of 145
External debt: $137,500,000,000
Total military aircraft: 69
Total military vehicles: 7,797
Total naval vessels: 0
Military strength score and world rank: 1.0259 – #55 out of 145

Hungary also has 76,600 total military personnel, which is composed of 41,600 active personnel, 20,000 reserves, and 15,000 paramilitary forces. At the same time, it has a total population of 9.856 million, and of these 3,794,462 are fit for military service.

15. Bulgaria

View of picturesque buildings in Dzhambaz Tepe, one of the Three Hills of the Old Town of Plovdiv, Bulgaria

Foreign exchange and gold reserves: $46,334,000,000
Purchasing power parity: $214,061,000,000
Military defense budget: $1,373,232,000 – #80 out of 145
External debt: $27,138,500,000
Total military aircraft: 65
Total military vehicles: 4,914
Total naval vessels: 36
Military strength score and world rank: 1.2563 – #61 out of 145

Bulgaria also has 40,000 total military personnel, which is composed of 37,000 active personnel and 3,000 reserves. At the same time, it has a total population of 6.783 million, and of these 2,611,324 are fit for military service.

14. Portugal

Beautiful coast of old town Cascais, Portugal, at sunset in summer day

Foreign exchange and gold reserves: $53,710,000,000
Purchasing power parity: $529,901,000,000
Military defense budget: $4,627,000,000 – #52 out of 145
External debt: $399,395,000,000
Total military aircraft: 115
Total military vehicles: 10,828
Total naval vessels: 194
Military strength score and world rank: 0.6856 – #39 out of 145

Portugal also has 260,400 total military personnel, which is composed of 24,000 active personnel, 211,700 reserves, and 24,700 paramilitary forces. At the same time, it has a total population of 10.64 million, and of these 4,096,295 are fit for military service.

13. Sweden

Sweden | The old town from Skeppholmen, Stockholm, Sweden

Foreign exchange and gold reserves: $60,863,000,000
Purchasing power parity: $676,353,000,000
Military defense budget: $13,000,000,000 – #28 out of 145
External debt: $1,002,448,700,000
Total military aircraft: 169
Total military vehicles: 6,795
Total naval vessels: 308
Military strength score and world rank: 0.4835 – #27 out of 145

Sweden also has 82,300 total military personnel, which is composed of 24,400 active personnel, 32,900 reserves, and 25,000 paramilitary forces. At the same time, it has a total population of 10.59 million, and of these 3,558,185 are fit for military service.

12. Netherlands

Netherlands | Amsterdam downtown - Amstel river, old houses and a bridge. Nice view of the famous city of Amsterdam. Travel to Europe.

Foreign exchange and gold reserves: $69,830,000,000
Purchasing power parity: $1,240,000,000,000
Military defense budget: $27,000,000,000 – #18 out of 145
External debt: $4,779,954,300,000
Total military aircraft: 120
Total military vehicles: 2,755
Total naval vessels: 64
Military strength score and world rank: 0.6412 – #36 out of 145

The Netherlands also has 53,145 total military personnel, which is composed of 41,380 active personnel, 6,765 reserves, and 5,000 paramilitary forces. At the same time, it has a total population of 17.77 million, and of these 6,486,918 are fit for military service.

11. Romania

Romania | Triumphal Arch, Bucharest, Romania

Foreign exchange and gold reserves: $73,000,000,000
Purchasing power parity: $772,107,000,000
Military defense budget: $9,700,000,000 – #33 out of 145
External debt: $132,000,000,000
Total military aircraft: 140
Total military vehicles: 10,774
Total naval vessels: 20
Military strength score and world rank: 0.8984 – #51 out of 145

Romania also has 151,300 total military personnel, which is composed of 81,300 active personnel, 55,000 reserves, and 15,000 paramilitary forces. At the same time, it has a total population of 18.15 million, and of these 7,731,114 are fit for military service.

10. Norway

Norwegian flag in May 17th constitution day parade in Haugesund, Norway 2022

Foreign exchange and gold reserves: $80,459,000,000
Purchasing power parity: $449,528,000,000
Military defense budget: $9,710,000,000 – #32 out of 145
External debt: $716,144,000,000
Total military aircraft: 97
Total military vehicles: 6,552
Total naval vessels: 43
Military strength score and world rank: 0.6811 – #38 out of 145

Norway also has 63,250 total military personnel, which is composed of 23,250 active personnel and 40,000 paramilitary forces. At the same time, it has a total population of 5.510 million, and of these 1,807,192 are fit for military service.

9. Spain

Plaza de Toros de Valencia or Plaza de bous aerial panoramic view. It is a bullring in Valencia city, Spain.

Foreign exchange and gold reserves: $103,089,000,000
Purchasing power parity: $2,242,000,000,000
Military defense budget: $23,397,000,000 – #22 out of 145
External debt: $2,572,738,300,000
Total military aircraft: 461
Total military vehicles: 17,626
Total naval vessels: 152
Military strength score and world rank: 0.3242 – #17 out of 145

Spain also has 226,902 total military personnel, which is composed of 133,282 active personnel, 15,150 reserves, and 78,470 paramilitary forces. At the same time, it has a total population of 47.28 million, and of these 17,635,602 are fit for military service.

8. Denmark

Christmas in Tivoli Gardens, Copenhagen, Denmark, with a snow covered fir tree in front of a defocussed carrousel ride

Foreign exchange and gold reserves: $109,371,000,000
Purchasing power parity: $428,385,000,000
Military defense budget: $7,225,466,250 – #40 out of 145
External debt: $555,500,000,000
Total military aircraft: 117
Total military vehicles: 3,856
Total naval vessels: 50
Military strength score and world rank: 0.8109 – #45 out of 145

Denmark also has 83,000 total military personnel, which is composed of 20,000 active personnel, 12,000 reserves, and 51,000 paramilitary forces. At the same time, it has a total population of 5.973 million, and of these 2,126,436 are fit for military service.

7. Czechia

Czechia | Vltava River and Charle bridge with red foliage

Foreign exchange and gold reserves: $148,379,000,000
Purchasing power parity: $519,007,000,000
Military defense budget: $6,750,000,000 – #43 out of 145
External debt: $211,200,000,000
Total military aircraft: 99
Total military vehicles: 6,340
Total naval vessels: 0
Military strength score and world rank: 0.9994 – #53 out of 145

Czechia also has 32,200 total military personnel, which is composed of 28,000 active personnel and 4,200 reserves. At the same time, it has a total population of 10.84 million, and of these 4,129,236 are fit for military service.

6. United Kingdom

Foreign exchange and gold reserves: $177,915,000,000
Purchasing power parity: $3,700,000,000,000
Military defense budget: $71,500,540,000 – #6 out of 145
External debt: $9,593,749,000,000
Total military aircraft: 631
Total military vehicles: 38,200
Total naval vessels: 109
Military strength score and world rank: 0.1785 – #6 out of 145

The United Kingdom also has 1,108,860 total military personnel, which is composed of 184,860 active personnel and 924,000 reserves. At the same time, it has a total population of 68.46 million, and of these 25,192,932 are fit for military service.

5. Poland

Foreign exchange and gold reserves: $193,783,000,000
Purchasing power parity: $1,616,000,000,000
Military defense budget: $48,700,000,000 – #12 out of 145
External debt: $386,947,000,000
Total military aircraft: 479
Total military vehicles: 23,138
Total naval vessels: 62
Military strength score and world rank: 0.3776 – #22 out of 145

Poland also has 602,100 total military personnel, which is composed of 202,100 active personnel, 350,000 reserves, and 50,000 paramilitary forces. At the same time, it has a total population of 38.75 million, and of these 15,576,017 are fit for military service.

4. France

Skyline of Paris with Eiffel Tower in Paris, France. Panoramic sunset view of Paris

Foreign exchange and gold reserves: $240,792,000,000
Purchasing power parity: $3,764,000,000,000
Military defense budget: $55,000,000,000 – #9 out of 145
External debt: $6,992,104,900,000
Total military aircraft: 976
Total military vehicles: 110,932
Total naval vessels: 129
Military strength score and world rank: 0.1878 – #8 out of 145

France also has 376,000 total military personnel, which is composed of 200,000 active personnel, 26,000 reserves, and 150,000 paramilitary forces. At the same time, it has a total population of 68.37 million, and of these 23,794,358 are fit for military service.

3. Italy

Foreign exchange and gold reserves: $247,396,000,000
Purchasing power parity: $3,097,000,000,000
Military defense budget: $30,890,000,000 – #16 out of 145
External debt: $2,750,000,000,000
Total military aircraft: 729
Total military vehicles: 73,480
Total naval vessels: 196
Military strength score and world rank: 0.2164 – #10 out of 145

Italy also has 289,000 total military personnel, which is composed of 165,500 active personnel, 18,500 reserves, and 105,000 paramilitary forces. At the same time, it has a total population of 60.96 million, and of these 22,191,235 are fit for military service.

2. Germany

Reichstag building in Berlin, Germany, with the German flag flying.

Foreign exchange and gold reserves: $322,700,000,000
Purchasing power parity: $5,230,000,000,000
Military defense budget: $50,000,000,000 – #11 out of 145
External debt: $6,238,609,300,000
Total military aircraft: 584
Total military vehicles: 83,260
Total naval vessels: 61
Military strength score and world rank: 0.2601 – #14 out of 145

Germany also has 215,600 total military personnel, which is composed of 181,600 active personnel and 34,000 reserves. At the same time, it has a total population of 84.12 million, and of these 30,955,829 are fit for military service.

1. Switzerland

Foreign exchange and gold reserves: $863,892,000,000
Purchasing power parity: $733,779,000,000
Military defense budget: $25,039,000,000 – #20 out of 145
External debt: $2,200,000,000,000
Total military aircraft: 146
Total military vehicles: 6,996
Total naval vessels: 0
Military strength score and world rank: 0.7869 – #44 out of 145

Switzerland also has 156,299 total military personnel, which is composed of 101,584 active personnel, 49,715 reserves, and 5,000 paramilitary forces. At the same time, it has a total population of 8.861 million, and of these 3,163,225 are fit for military service.

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.