Key Market Indicators
Macedonian defense spending is projected to climb to approximately $258 million by 2028, up from roughly $218 million in 2023, marking a compound annual growth rate (CAGR) of 2.6%. Since 1997, Macedonia's defense expenditure has risen significantly, showing an average annual increase of 12.8%. In 2023, Macedonia was ranked 112th in global defense spending, just behind Zimbabwe, which allocated a similar amount of $218 million. Leading the global defense spending rankings are China, Russia, and India, holding the second, third, and fourth positions respectively.
