The forecast for UK sub-central government procurement, excluding social security funds, indicates a steady upward trend from 2024 to 2028. In 2023, the value was approximately 150.39 billion USD PPP. From 2024 onward, the procurement value shows incremental annual increases: 0.96% in 2025, 0.94% in 2026, 0.91% in 2027, and 0.89% in 2028. The compound annual growth rate (CAGR) over this period averages about 0.93%, reflecting a stable yet moderate growth outlook for this segment of government spending.
Future trends to watch for include potential policy changes geared towards sustainability and innovation which might impact procurement priorities. Additionally, any economic shifts, such as inflation or currency fluctuations, could influence these forecasts, requiring adjustments to budget allocations and overall procurement strategies.
