The export value of gas turbine engines from Indonesia showed significant fluctuations from 2013 to 2023. The actual data indicated a peak value of $103.99 million in 2013, followed by a sharp decline over the next several years, hitting a low in 2017 at $28.489 million. The export value experienced a significant recovery from 2018 onwards, averaging an annual growth with minor fluctuations.
Specifically, the year-on-year variations for 2022 were 2.78%, and for 2023 were 2.65%. Over the past five years, the CAGR was slightly negative at -0.77%. The forecasted data from 2024 to 2028 show a trend of moderate growth, with a forecasted five-year CAGR of 1.99%, suggesting incremental improvements and stabilization in the export value.
Future trends to watch for include potential global economic impacts, technological advancements in gas turbine engines, and bilateral trade agreements which could vastly influence the export market. Stakeholders should also monitor commodity prices and energy sector regulations that may affect production and demand.