Key Market Indicators
Belize's defense expenditure is projected to climb to approximately $25.8 million by 2028, up from nearly $24 million in 2023. This represents an average annual growth rate of 1.1%. Since 1989, Belizean demand for defense spending has increased modestly, showing an average year-on-year rise of 0.6%. In the global ranking for defense budgets in 2023, Belize held the 142nd position. Sierra Leone surpassed Belize with a defense budget also at around $24 million. On the international stage, China, Russia, and India secured the second, third, and fourth spots, respectively, in terms of defense expenditure.
