Key Market Indicators
Paraguay's defense spending is projected to hit approximately $370 million by 2028, up from about $366 million in 2023. This represents a modest annual growth rate of 0.2%. Historical data since 1965 shows a yearly decline of 1.1% in Paraguayan defense expenditure. In the global ranking for 2023, Paraguay secured the 99th position, with Namibia slightly ahead, also at around $366 million. Leading the list, China, Russia, and India occupied the second, third, and fourth spots, respectively.
