Indonesia becomes Southeast Asia’s second biggest military spender
With a total defence budget of 8.8 billion USD in 2023, Indonesia becomes the second-largest military spender in Southeast Asia, following Singapore, according to data and analytics company GlobalData.
Indonesia becomes the second-largest military spender in Southeast Asia. (Photo: thejakartapost.com)
Jakarta (VNA) – With a total defence budget of 8.8 billion USD in2023, Indonesia becomes the second-largest military spender in Southeast Asia,following Singapore, according to data and analytics company GlobalData.
The country’s militaryexpenditure is forecast to reach 9.7 billion USD by 2028.
GlobalData’s latest report, “Indonesia Defense Market Size and Trends, BudgetAllocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast,2023-28,” reveals that the country’s cumulative defence spending isanticipated to touch 46.6 billion USD during the 2024-2028 period, out of whichthe acquisition budget share is estimated to be approximately 28.4%, amountingto 13.3 billion USD. The defense acquisition expenditure is expected toregister a compound annual growth rate (CAGR) of 1.5% over 2024-2028 and reach 2.7billion USD by 2028.
Abhijit Apsingikar, Aerospace& Defense Analyst at GlobalData, said that Indonesia’s defencebudget is majorly driven by the need to mitigate natural disasters andundertake military modernisation initiatives.
The country is looking to expand its defence posture as well as augment itsindigenous defence manufacturing industrial complex through militarymodernisation initiatives, while improving capacity in response to security andterrorism threats.
🐻 Over the 2018-2023 period, Indonesia carried out several defence deals to modernizeits air force fleet, including the acquisition of 42 Dassault Rafale as well as24 F-15ID multirole strike fighters. The country also invested in modernisingits air lift capability, and signed a contract to acquire two units of the A-400MAtlas transport aircraft./.
Indonesian President Joko Widodo has said that the Government is increasing the rice supply in the domestic market to curb consumer prices affected by the rise in unhusked rice prices.
This is an urgent time for archipelagic and island states to stand in solidarity and work together, making the Archipelagic and Island States Forum (AIS Forum) a "lighthouse" for developing inclusive cooperation to tackle various global challenges, Indonesian Minister of Foreign Affairs Retno Marsudi said on October 10.
Indonesia's flag carrier Garuda Indonesia said on October 10 that it has completed a test flight using a palm oil-blended jet fuel on a Boeing 737-800NG aircraft.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
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Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Indonesia becomes the second-largest military spender in Southeast Asia. (Photo: thejakartapost.com) 
