In 2023, Canada's military expenditure was approximately 1.23% of GDP. Forecasts indicate stability in this percentage from 2024 to 2028, with a slight initial increase to 1.24% in 2024. The year-on-year variation is negligible, demonstrating consistent military spending as a share of GDP. The five-year compound annual growth rate (CAGR) is effectively zero, further highlighting a steady trend.
Future trends to watch for include potential governmental policy changes, international security developments, and economic factors that might prompt adjustments in military expenditure relative to GDP. Close monitoring of geopolitical tensions and alliance commitments will be crucial.
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