Key Market Indicators
Kazakhstan's defence expenditure is projected to climb to approximately $1.42 billion by 2028, marking a modest annual growth rate of 0.6% from its current level of nearly $1.37 billion in 2023. This increase comes amid a long-term trend of declining demand. Since 1999, Kazakhstan's defence spending has decreased at an average rate of 1.8% per year. In the global ranking of defence expenditures for 2023, Kazakhstan holds the 66th position. Serbia has recently surpassed Kazakhstan, also reporting a defence budget of around $1.37 billion. Leading the global defence expenditure rankings are China, Russia, and India, occupying the second, third, and fourth spots respectively.
