Forecast: Government Expenditure on Military Defence by Government Level in Spain

Government expenditure on military defence in Spain as a percentage of GDP has seen slight fluctuations over the past years, ranging between 0.7 and 0.9. From 2013 to 2014, there was a notable decrease of 11.11%, followed by a stable period until 2017. In 2018, it saw another decline of 12.5%, maintaining this lower level until growth in 2020 with a 14.29% increase. The value for 2023 stood at 0.7% of GDP, marking a decrease of 12.5% compared to the previous year.

From 2024 to 2028, the expenditure is forecasted to remain constant at 0.7%, reflecting a stagnant trend with no expected growth. The Compound Annual Growth Rate (CAGR) over the last five years is 0%, indicating no average annual growth.

Future trends to watch for include potential changes in international security dynamics and economic conditions that may prompt variations in defense spending. Additionally, monitoring political commitments and strategic defense reviews will be crucial in anticipating any shifts in expenditure levels.