The import of gas turbine engines to Indonesia has experienced fluctuations over the years, with significant yearly variations. Specifically, between 2013 and 2017, there was a notable decline, but from 2018 onwards, the values stabilized with a slight upward trend. The value in 2023 stood at approximately 408.08 million USD. Over the last two years, there was an average yearly increase of about 0.59%. The five-year CAGR leading up to 2023 was around -1.23%. Looking forward to the period between 2023 and 2028, the average annual growth rate is forecasted to be around 0.47%, with an overall growth rate of 2.37% over these five years.
Future trends to watch for include:
- The sustained demand for energy and its impact on gas turbine engine imports.
- Technological advancements leading to more efficient and potentially cost-effective gas turbines.
- Government policies and investments in energy infrastructure affecting import levels.
- Global economic factors and their influence on Indonesia's trade dynamics.