Key Market Indicators
Algeria's defense spending is projected to decline steadily over the next five years, with expenditure expected to drop to approximately $8 billion by 2028. This represents a decrease from around $9 billion in 2023, marking a 1.7% year-on-year compound annual growth rate (CAGR). Historically, Algeria's defense budget has seen a consistent decline, averaging a 1.4% reduction per year since 1968. In the global rankings for defense expenditures, Algeria was positioned at number 24 in 2023. Indonesia edged ahead of Algeria with a similar budget of $9 billion. The top three countries in defense spending remain unchanged, with China, Russia, and India occupying the second, third, and fourth positions, respectively.
