Key Market Indicators
Nicaraguan defense spending is projected to climb to approximately $92 million by 2028, up from around $85 million in 2023. This represents an average annual growth rate of 1.4%. Since 1973, Nicaragua's defense expenditure has seen an average yearly increase of 0.7%. In 2023, the country ranked 131st globally in defense spending, just behind Kosovo, which also recorded expenditure of about $85 million. The top positions in global defense spending remain dominated by major powers, with China, Russia, and India occupying the second, third, and fourth spots, respectively.
