Key Market Indicators
Ethiopia's defense expenditure is projected to soar, reaching approximately $4.1 billion by 2028. This marks a significant increase from the estimated $1.6 billion in 2023, with an average annual growth rate of 14.7%. Since 1965, Ethiopia's defense spending has seen an average yearly increase of 24.7%. As of 2023, Ethiopia ranked 62nd globally in defense expenditure, with Angola surpassing it at the same $1.6 billion mark. In the broader context, China, Russia, and India hold the top three positions in global defense spending, respectively.
