Key Market Indicators
Namibia's defense expenditure is projected to hit approximately $383 million by 2028, up from around $372 million in 2023. This represents a modest annual growth rate of 0.5%. Since 1995, the country's defense spending has seen an average yearly decline of 4%. In 2023, Namibia ranked 98th globally in defense expenditure, with Cameroon slightly ahead at about $372 million. Leading the global rankings, China, Russia, and India secured the second, third, and fourth positions, respectively.
