Key Market Indicators
Guyanese defense expenditure is projected to climb to nearly $98 million by 2028, up from approximately $87 million in 2023. This represents a year-on-year compound annual growth rate (CAGR) of 1.9%. Since 1978, Guyana has seen its defense spending increase by 7% annually. In 2023, the country was ranked 129th in global defense expenditure, trailing behind Malta which also reported spending near $87 million. Leading the global rankings were China, Russia, and India, occupying the second, third, and fourth positions respectively.