Based on the provided data, the import value of cargo vessels other than tankers or refrigerated vessels to Indonesia in 2023 stood at $471.34 million USD. The series shows fluctuations throughout the past decade: a notable decrease from $589.77 million in 2013 to $266.88 million in 2020, followed by a partial recovery to $474.79 million in 2021 and slight decreases afterward. The year-on-year variation over the last two years indicates a negative trend: a 0.36% decline in 2022 and a similar 0.36% decrease in 2023. The compound annual growth rate (CAGR) over the last five years stands at -1.82%, indicating a declining trend.
Future trends to watch for involve a continued slight decline in imports, as forecasted data points to a 5-year CAGR of -0.3%, reflecting an average annual decrease of 1.5% till 2028. Factors influencing these trends could include changes in global trade policies, advancements in maritime technology, or shifts in Indonesia's economic strategies and demand for new cargo vessels.
