Key Market Indicators
Cambodian defense expenditure is projected to decline to approximately $580 million by 2028, down from $606 million in 2023. This marks an average annual decrease of 0.7%. Despite this projected downturn, Cambodian defense spending has seen a steady increase since 1995, growing at an average rate of 2.2% per year. In the global rankings for 2023, Cambodia stood at 84th place in terms of defense expenditure. Ivory Coast surpassed Cambodia with a defense budget of $606 million. On a larger scale, the top rankings for defense expenditure were dominated by China, Russia, and India, holding the second, third, and fourth positions respectively.
