Key Market Indicators
Zimbabwe's defense expenditure is projected to climb to approximately $249 million by 2028, up from around $222 million in 2023. This represents an average annual growth rate of 1.8%. Despite this anticipated increase, Zimbabwe has experienced a long-term decline in defense spending, with demand decreasing by 12% annually since 1970. In 2023, Zimbabwe was ranked 111th in global defense expenditure. Ghana outpaced Zimbabwe in the same year, with a defense budget of about $222 million. The top spots in global defense spending were occupied by China, Russia, and India, ranking second, third, and fourth, respectively.
