Key Market Indicators
Senegal's defense expenditure is projected to rise to approximately $580 million by 2028, up from around $470 million in 2023. This marks a compound annual growth rate (CAGR) of 3.3%. Since 1984, Senegalese defense spending has been increasing at an annual rate of 4%. In the global rankings for 2023, Senegal held the 91st position. Notably, Honduras surpassed Senegal with a similar expenditure of about $470 million. On the international stage, China, Russia, and India occupied the 2nd, 3rd, and 4th positions, respectively, in defense spending.
