Forecast: Military Expenditure in Indonesia

The military expenditure in Indonesia, expressed as a unit of GDP, has shown significant fluctuations from 2013 to 2023. The data depicts a pattern of sporadic increases and decreases. For example, expenditure saw a notable rise in 2013 (29.12% year-on-year) but experienced a sharp decline in the following year (-15.34%). The last two years show a relatively consistent decrease, with -5.28% in 2022 and -3.86% in 2023. Over the last five years, the CAGR stands at -1.24%, indicating a gradual downtrend. Looking forward, forecast data suggests a continued decline with a projected CAGR of -3.37% over the next five years, reaching a forecasted value of 0.55 by 2028.

Future trends to watch for include the impact of broader economic conditions on military spending and potential shifts in national security priorities. Geopolitical developments in the region and Indonesia's role in international peacekeeping may also influence future expenditures. It will be essential to monitor these variables as they will shape the trajectory of military investment in the coming years.