War Balance
Refugee spending kept in the host economy: every country since 2022
What each country earned from money of the war effort spent in its own economy: counted at its real gain (taxes and profit above a normal return, times the share that is genuinely extra) and subtracted from its support for Ukraine. Each row is the country where the money was spent. From 2022 to August 2026, 33 countries have this part; the table starts with Poland, Germany and the Netherlands.
These numbers measure money: aid to Ukraine and the change in what Russia keeps from trade, against a world without the war. Weapons count at their money value: aid at market value when delivered, weapons and troops sent to Russia at the seller's gain where Russia paid and in full where it did not. Votes, diplomacy and intent are not in them.
Ranking · 33
Sorted by “Refugee spending kept in the host economy” in euros, by the amount subtracted, high to low, 2022 to August 2026. −: what it earned, subtracted from its support for Ukraine and from the net; + adds to its support for Ukraine, − takes from it; + toward Ukraine, − toward Russia.
| # | Country | Refugee spending kept in the host economy | Support for Ukraine | Net |
|---|---|---|---|---|
| 1 | Poland | −€0.91bn−0.12% of GDP · −€25 per personrange −€2.2bn to −€0.31bn | +€14.2bn+1.9% of GDPvery likely · 98% | +€37.8bn+5.0% of GDPvery likely · >99% |
| 2 | Germany | −€0.80bn−0.02% of GDP · −€10 per personrange −€2.4bn to −€0.11bn | +€74.8bn+1.8% of GDPvery likely · >99% | +€153bn+3.7% of GDPvery likely · >99% |
| 3 | Netherlands | −€0.38bn−0.04% of GDP · −€21 per personrange −€0.73bn to −€0.13bn | +€22.8bn+2.2% of GDPvery likely · >99% | +€54.1bn+5.1% of GDPvery likely · >99% |
| 4 | Ireland | −€0.24bn−0.05% of GDP · −€45 per personrange −€0.48bn to −€0.11bn | +€7.5bn+1.4% of GDPvery likely · >99% | +€9.5bn+1.8% of GDPvery likely · >99% |
| 5 | Switzerland | −€0.14bn−0.02% of GDP · −€16 per personrange −€0.30bn to −€30m | +€8.3bn+0.97% of GDPvery likely · >99% | +€8.7bn+1.0% of GDPvery likely · >99% |
| 6 | United Kingdom | −€0.14bn<0.01% of GDP · −€2 per personrange −€0.32bn to −€35m | +€18.4bn+0.58% of GDPvery likely · >99% | +€58.4bn+1.8% of GDPvery likely · >99% |
| 7 | United States | −€92m<0.01% of GDP · <€1 per personrange −€0.20bn to −€18m | +€82.6bn+0.32% of GDPvery likely · >99% | +€132bn+0.51% of GDPvery likely · >99% |
| 8 | Spain | −€68m<0.01% of GDP · −€1 per personrange −€0.19bn to −€2m | +€8.4bn+0.56% of GDPvery likely · >99% | +€16.6bn+1.1% of GDPvery likely · >99% |
| 9 | Norway | −€54m−0.01% of GDP · −€10 per personrange −€0.17bn to −€8m | +€12.8bn+2.5% of GDPvery likely · >99% | +€14.8bn+2.9% of GDPvery likely · >99% |
| 10 | Canada | −€51m<0.01% of GDP · −€1 per personrange −€0.14bn to −€8m | +€8.8bn+0.42% of GDPvery likely · >99% | +€10.6bn+0.51% of GDPvery likely · >99% |
| 11 | Italy | −€40m<0.01% of GDP · −€1 per personrange −€88m to −€7m | +€12.7bn+0.60% of GDPvery likely · >99% | +€34.4bn+1.6% of GDPvery likely · >99% |
| 12 | Australia | −€29m<0.01% of GDP · −€1 per personrange −€84m to −€8m | +€1.3bn+0.08% of GDPvery likely · >99% | −€0.61bn−0.04% of GDPessentially zero |
| 13 | Belgium | −€23m<0.01% of GDP · −€2 per personrange −€58m to −€5m | +€5.8bn+0.97% of GDPvery likely · >99% | +€20.3bn+3.4% of GDPvery likely · >99% |
| 14 | France | −€20m<0.01% of GDP · <€1 per personrange −€51m to −€7m | +€16.9bn+0.60% of GDPvery likely · >99% | +€43.6bn+1.6% of GDPvery likely · >99% |
| 15 | Czechia | −€17m<0.01% of GDP · −€2 per personrange −€93m to −€2m | +€4.1bn+1.3% of GDPvery likely · >99% | +€8bn+2.6% of GDPvery likely · 97% |
| 16 | Greece | −€14m<0.01% of GDP · −€1 per personrange −€68m to −€2m | +€1.4bn+0.65% of GDPvery likely · >99% | +€0.18bn+0.08% of GDPessentially zero |
| 17 | Finland | −€14m<0.01% of GDP · −€2 per personrange −€44m to −€5m | +€5.3bn+1.9% of GDPvery likely · >99% | +€23.1bn+8.5% of GDPvery likely · >99% |
| 18 | Austria | −€11m<0.01% of GDP · −€1 per personrange −€64m to €0m | +€3.7bn+0.79% of GDPvery likely · >99% | +€2.1bn+0.45% of GDPlikely toward Ukraine · 68% |
| 19 | Portugal | −€11m<0.01% of GDP · −€1 per personrange −€53m to −€1m | +€1.3bn+0.49% of GDPvery likely · >99% | +€3.5bn+1.3% of GDPvery likely · >99% |
| 20 | Romania | −€10m<0.01% of GDP · −€1 per personrange −€29m to −€1m | +€1.8bn+0.58% of GDPvery likely · >99% | +€8.9bn+2.8% of GDPvery likely · 99% |
| 21 | Luxembourg | −€9m−0.01% of GDP · −€14 per personrange −€84m to −€2m | +€0.77bn+0.94% of GDPvery likely · >99% | +€2.9bn+3.5% of GDPvery likely · >99% |
| 22 | Bulgaria | −€7m<0.01% of GDP · −€1 per personrange −€22m to −€1m | +€0.68bn+0.72% of GDPvery likely · >99% | +€3.1bn+3.3% of GDPlikely toward Ukraine · 95% |
| 23 | Sweden | −€7m<0.01% of GDP · −€1 per personrange −€35m to −€2m | +€8.8bn+1.6% of GDPvery likely · >99% | +€20.1bn+3.7% of GDPvery likely · >99% |
| 24 | Slovakia | −€7m<0.01% of GDP · −€1 per personrange −€78m to €0m | +€1.1bn+0.89% of GDPvery likely · >99% | +€0.29bn+0.24% of GDPtoo close to call · 58% toward Ukraine |
| 25 | Cyprus | −€7m−0.02% of GDP · −€5 per personrange −€38m to −€1m | +€0.42bn+1.3% of GDPvery likely · >99% | +€1.2bn+3.6% of GDPvery likely · >99% |
| 26 | Iceland | −€4m−0.02% of GDP · −€11 per personrange −€25m to −€1m | +€0.27bn+0.91% of GDPvery likely · >99% | +€0.35bn+1.2% of GDPvery likely · >99% |
| 27 | Croatia | −€4m<0.01% of GDP · −€1 per personrange −€12m to −€1m | +€0.66bn+0.85% of GDPvery likely · >99% | +€1.2bn+1.5% of GDPvery likely · >99% |
| 28 | Hungary | −€4m<0.01% of GDP · <€1 per personrange −€10m to −€1m | +€0.68bn+0.36% of GDPvery likely · >99% | −€11.4bn−6.0% of GDPvery likely · 97% |
| 29 | Lithuania | −€4m<0.01% of GDP · −€1 per personrange −€21m to −€1m | +€1.3bn+1.8% of GDPvery likely · >99% | +€8.8bn+11.9% of GDPvery likely · >99% |
| 30 | Latvia | −€3m<0.01% of GDP · −€2 per personrange −€9m to −€1m | +€0.75bn+1.9% of GDPvery likely · >99% | +€2.2bn+5.6% of GDPvery likely · >99% |
| 31 | Estonia | −€2m<0.01% of GDP · −€1 per personrange −€7m to <€1m | +€0.92bn+2.4% of GDPvery likely · >99% | +€4.1bn+10.8% of GDPvery likely · >99% |
| 32 | Moldova | −€1m<0.01% of GDP · −€1 per personrange −€4m to <€1m | +€93m+0.61% of GDPlikely above zero · 81% | +€1.1bn+6.9% of GDPvery likely · 97% |
| 33 | Malta | −€1m<0.01% of GDP · −€2 per personrange −€6m to <€1m | +€0.11bn+0.52% of GDPvery likely · >99% | +€0.25bn+1.2% of GDPvery likely · 95% |
Each row: the best estimate, then its range in the same unit and sign. The chances of the direction are for each country's totals, on its page.
Related
- Aid to Ukraine spent at home
- Other countries' aid to Ukraine spent here
- Extra sales to Ukraine
- Extra services sold to Ukraine
Ranking · Support for Ukraine by country · Trade with Russia by country · All topics · How it works
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Cite as: War Balance, figures to August 2026, https://warbalance.org/refugee-spending-in-host-economies/