Forecast: Government Expenditure on Defence by Government Level in Spain

The data on Spanish government expenditure on defense relative to GDP shows relatively stable trends over the period from 2013 to 2023. The values fluctuate around 1% of GDP, with minor variations indicating a generally conservative approach to defense spending. The year-on-year variations indicate slight increases or decreases, while the Compound Annual Growth Rate (CAGR) over the last 5 years remains at 0%, suggesting a consistent approach without any significant ramp-up or reduction in defense budget relative to GDP.

• From 2013 to 2019, there is a visible oscillation with slight increases and decreases, but no significant long-term growth or decline.
• Years 2020 to 2023 show a stabilization in spending values, maintaining around 0.9% to 1% of GDP.
• Forecast data from 2024 onwards project stable values, maintaining the 0.9% of GDP consistent with recent historical data.

Future trends to watch for include potential adjustments in defense expenditures triggered by geopolitical changes, economic shifts, or policy reforms within the European Union. Changes in regional security challenges or Spain's involvement in international alliances and military operations could also influence future budgets.