Key Market Indicators
Nepal's defense expenditure is projected to climb to approximately $493 million by 2028, up from around $441 million in 2023. This represents an average annual growth rate of 1.8%. Since 1975, Nepal's defense spending has seen a modest average annual increase of 0.5%. In the global ranking for 2023, Nepal held the 93rd position in terms of defense expenditure. Brunei surpassed Nepal with an expenditure of about $441 million. Leading the global rankings were China, Russia, and India, securing the second, third, and fourth spots respectively.
