Key Market Indicators
Croatia's defense expenditure is projected to decline to approximately $1.05 billion by 2028, down from around $1.27 billion in 2023. This marks an average annual decrease of 2.9%. Since 1997, Croatian defense spending has seen a notable increase, with an average annual growth rate of 5.5%. Despite this historical rise, the country was ranked 68th globally in defense expenditure for 2023. In the same year, Bahrain surpassed Croatia with a defense budget of approximately $1.27 billion. On the global stage, China, Russia, and India occupied the second, third, and fourth positions respectively in defense spending.
