Angola's military expenditure displayed significant fluctuations over the past decade. From 2013 through 2023, military spending peaked in 2014 before experiencing a continuous decline until 2020, bottoming out at $0.99359 billion. The spending rose again gradually from 2021, standing at $1.6943 billion in 2023, marking a 4.41% year-on-year increase. Over the past five years, the compound annual growth rate (CAGR) portrays a modest decline of -3.1%.

From 2024 onwards, forecast data suggests a steady upward trend in military expenditure, with an average annual increase of 3.06% and an anticipated 16.25% growth over five years. Spending is expected to rise progressively from $1.768 billion in 2024 to $2.0553 billion in 2028.

Future trends to watch for:

Geopolitical developments influencing military budget adjustments
Economic shifts and their impact on defense spending priorities
Technological advancements prompting increased investment in military modernization