Key Market Indicators
Serbian weapon imports are projected to soar to nearly $580 million by 2028, up from approximately $300 million in 2023. This marks an annual growth rate of 10.3%. Since 1997, the demand for weapons in Serbia has surged by over 150% annually. In 2023, Serbia ranked 23rd in global weapon imports, with Brazil slightly ahead at the same import value of $300 million. Qatar, Saudi Arabia, and Kuwait occupied the second, third, and fourth positions, respectively. On the export side, Serbian weapon exports are expected to reach around $21 million by 2028, rising from roughly $19 million in 2023. This represents an average annual growth rate of 1.5%. However, since 2001, the country's weapon exports have declined by nearly 7% annually.
