Key Market Indicators
Peru's defense expenditure is projected to rise to approximately $2.89 billion by 2028, up from $2.85 billion in 2023. This marks an average annual growth rate of 0.2%. Since 1965, Peru's defense spending has increased by an average of 1.5% each year. In 2023, the country ranked 53rd in global defense expenditure, with New Zealand narrowly ahead at the same spending level of $2.85 billion. At the top of the rankings, China, Russia, and India occupied the second, third, and fourth positions, respectively.
