Key Market Indicators
Swaziland's defense expenditure is projected to reach approximately $78 million by 2028, reflecting a modest annual growth rate of 0.7%. This is an increase from the $75 million estimated for 2023. Despite this projected growth, Swaziland has seen a long-term decline in defense spending, with a year-on-year decrease averaging 4.8% since 1982. In the global ranking for 2023, Swaziland is positioned at number 133, with Malawi slightly ahead at the same $75 million mark. In contrast, the leading countries in defense expenditure remain consistent. China, Russia, and India hold the second, third, and fourth spots respectively in the international rankings for military spending.
