Key Market Indicators
Rwanda's defense expenditure is projected to climb to nearly $186 million by 2028, marking a modest annual growth rate of 0.6% from its 2023 figure of about $179 million. Since 1978, Rwanda has seen its defense spending increase by an average of 8.5% annually. In 2023, the country ranked 116th in global defense expenditure, a position overtaken by Bosnia and Herzegovina, which also reported spending around $179 million. On the global stage, China, Russia, and India held the second, third, and fourth spots respectively in defense expenditure rankings.
