Key Market Indicators
Ukraine's weapon exports are projected to decline significantly, dropping to approximately $35 million by 2028 from around $79 million in 2023. This represents an average annual decrease of 13.1%. The trend has been downward since 1997, with a yearly reduction of 20.8%. Conversely, Ukraine's weapon imports are expected to rise, reaching about $302 million by 2028 from $209 million in 2023. This marks an average annual growth rate of 5.7%. Since 2019, Ukraine's demand for weapons has surged, increasing by 24.5% each year. In 2023, Ukraine ranked 31st globally in weapon imports, with Italy surpassing it at $209 million. Qatar, Saudi Arabia, and Kuwait occupied the second, third, and fourth spots, respectively, in the rankings.
