Key Market Indicators
Colombian defense expenditure is projected to rise to approximately $10.8 billion by 2028, up from around $10.1 billion in 2023. This reflects an average annual growth rate of 1.1%. Since 1965, Colombia's defense spending has seen a slight decline, averaging a 0.1% decrease per year. In the current year, Colombia ranks 22nd in global defense spending, having been overtaken by Pakistan, which also reports expenditures around $10.1 billion. In the broader context, China, Russia, and India hold the second, third, and fourth positions in defense spending, respectively.
