Key Market Indicators
Papua New Guinea's defense expenditure is projected to climb to approximately $107 million by 2028, marking a steady annual growth rate of 1.3% from its 2023 level of around $99 million. This forecast highlights the gradual increase in defense spending over a five-year period. Historically, Papua New Guinea has seen a consistent rise in demand for defense resources, with an average annual growth rate of 4.4% since 1980. This upward trend underscores the country's continued investment in its defense capabilities. In 2023, Papua New Guinea ranked 123rd in global defense spending, with Tajikistan surpassing it by posting the same expenditure figure of $99 million. On the other hand, major global powers occupied the top spots in the ranking, with China, Russia, and India securing the second, third, and fourth positions respectively.
