Key Market Indicators
Cabo Verde's defense expenditure is projected to climb to approximately $11.8 million by 2028, up from around $11 million in 2023. This represents an average annual growth rate of 1.1%. Since 1992, the nation's defense spending has seen an average yearly increase of 0.6%. In the global ranking for 2023, Cabo Verde stood at 147th, with Gambia surpassing it at the same expenditure level of about $11 million. On the international stage, China, Russia, and India occupied the second, third, and fourth positions respectively in defense spending.
