Key Market Indicators
Tanzania's defense expenditure is on track to hit approximately $1.1 billion by 2028, up from about $872 million in 2023. This represents a compound annual growth rate of 3.2%. Since 1972, the nation's defense spending has surged by an average of 7.8% each year. In 2023, Tanzania was ranked 75th in the world for defense expenditure, with Latvia surpassing it with a similar budget of $872 million. Globally, China, Russia, and India hold the second, third, and fourth positions, respectively, in defense spending rankings.
