As a member of NATO, the Greek military participates in exercises and deployments under the auspices of the alliance, although its involvement in NATO missions is minimal. Greece spends over US$7 billion annually on its military, or 2.3 percent of GDP, the 24th-highest in the world in absolute terms, the seventh-highest on a per capita basis, and the second-highest in NATO after the United States. Moreover, Greece is one of only five NATO countries to meet or surpass the minimum defence spending target of 2 percent of GDP.