Key Market Indicators
Chilean defense expenditure is projected to climb to nearly $6 billion by 2028, according to recent forecasts. The country's defense budget for 2023 stands at approximately $5.6 billion, reflecting an average annual growth rate of 0.9%. Since 1965, Chile's defense spending has seen a modest year-on-year increase of 0.3%. In the global ranking for 2023, Chile holds the 35th position. Oman, with a similar defense budget of around $5.6 billion, ranks just ahead of Chile. On the global stage, China, Russia, and India occupy the second, third, and fourth positions respectively in terms of defense expenditure.
