Key Market Indicators
Benin's defense expenditure is projected to hit approximately $103 million by 2028, up from nearly $98 million in 2023. This represents an average annual growth rate of 0.9 percent. Since 1965, the nation's defense spending has seen an average yearly increase of 1.6 percent. In the latest ranking for 2023, Benin placed 126th, with Montenegro surpassing it with around $98 million in defense spending. Globally, China, Russia, and India secured the second, third, and fourth spots respectively in defense expenditure rankings.
