Key Market Indicators
Guatemala's defense expenditure is projected to climb to approximately $500 million by 2028, marking an increase from around $436 million in 2023. This growth translates to an average annual rate of 2.2%. Looking back, Guatemalan defense spending has surged by an average of 9.8% annually since 1965. In the global rankings for defense budgets in 2023, Guatemala holds the 95th position. Just ahead of Guatemala is South Sudan, with a similar defense budget of about $436 million. On the global stage, China, Russia, and India occupy the second, third, and fourth spots, respectively, for defense expenditures.
