Global Defense Spending Annual Snapshot

Global Defense Spending Annual Snapshot
Africa, Latin America, and Middle East

In this latest white paper from Forecast International, our analysts reveal defense spending trends in regions representing 13% of the global defense landscape — Africa, Latin America, and the Middle East. This complimentary resource delves into compelling insights, including:

Africa: Africa spent $39.2 billion on defense in 2023, with steady growth of almost 4%. Burkina Faso, Niger, and Mali increased spending due to deteriorating security, receiving backing from Russia as UN and Western forces exited.

Latin America: Despite a resilient economic recovery, Latin America's defense spending constituted 2.8% of the global total, facing constraints due to enlarged national debt obligations, persistent challenges, and political transitions.

Middle East: Middle Eastern states spent $163 billion on defense in 2023 (7.7% of global spending). Israel's budget rose significantly amid conflicts, and the region's defense budgets are expected to grow through 2028, reaching $193.4 billion collectively.

Download other parts of this series on our White Paper page HERE.

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