Forecast: General Government Procurement on Defence in Finland

General Government Procurement on Defence in Finland exhibited significant fluctuations from 2013 to 2023. The value in 2023 stood at 3.5 units. Over this period, there were notable year-on-year variations, with high points such as a 10.11% increase in 2015 and significant declines like the 16.21% drop in 2016. From 2019 to 2023, the trend was predominantly negative with year-on-year decreases, culminating in a 2.51% decline in 2023. The compounded annual growth rate (CAGR) from 2017 to 2022 is observed to be -1.68%.

Future projections from 2024 to 2028 continue this downtrend with an estimated annual average decrease of 2.14% (CAGR), resulting in a total decline of approximately 10.26%. Procurement values are forecasted to descend steadily from 3.41 units in 2024 to 3.06 units in 2028.

Future trends to watch for include potential policy shifts towards increased defence spending due to geopolitical tensions, potential technological advancements necessitating higher investments, and economic factors affecting budget allocations. Monitoring these variables could provide insights into deviations from the forecasted downtrend.