Compensation of employees in Latin America & Caribbean (excluding high income)
Latin America & Caribbean (excluding high income): Compensation of employees was 32.0% in 2023. ▲ Rising
Compensation of employees in Latin America & Caribbean (excluding high income), 1998–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
In 2023, compensation of employees in Latin America & Caribbean (excluding high income) stood at 32.0%.
That represents a change of up 7.0% on the previous year and down 6.3% over ten years.
Over the whole period, compensation of employees in Latin America & Caribbean (excluding high income) peaked at 37.2% in 2010 and was at its lowest, 26.2%, in 1999.
Latin America & Caribbean (excluding high income) ranks 12th of 41 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 24 years of available data.
Compensation of employees in Latin America & Caribbean (excluding high income), year by year
| Year | % of expense | Change |
|---|---|---|
| 1998 | 26.7% | — |
| 1999 | 26.2% | -1.8% |
| 2000 | 29.8% | +13.5% |
| 2003 | 31.0% | +3.9% |
| 2004 | 28.2% | -8.9% |
| 2005 | 34.4% | +22.0% |
| 2006 | 34.1% | -0.9% |
| 2007 | 34.5% | +0.9% |
| 2008 | 36.0% | +4.4% |
| 2009 | 34.2% | -5.0% |
| 2010 | 37.2% | +8.9% |
| 2011 | 36.4% | -2.1% |
| 2012 | 32.0% | -12.2% |
| 2013 | 34.1% | +6.6% |
| 2014 | 33.9% | -0.6% |
| 2015 | 36.4% | +7.4% |
| 2016 | 31.9% | -12.4% |
| 2017 | 33.1% | +3.7% |
| 2018 | 32.3% | -2.5% |
| 2019 | 31.9% | -1.1% |
| 2020 | 31.2% | -2.1% |
| 2021 | 29.2% | -6.5% |
| 2022 | 29.8% | +2.2% |
| 2023 | 32.0% | +7.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 26.5% | 26.2% | 26.7% | 2 |
| 2000s | 32.8% | 28.2% | 36.0% | 8 |
| 2010s | 33.9% | 31.9% | 37.2% | 10 |
| 2020s | 30.6% | 29.2% | 32.0% | 4 |
Countries ranked near Latin America & Caribbean (excluding high income)
- 9 Saudi Arabia 48.5% compare
- 10 Burundi 48.1% compare
- 11 Madagascar 47.9% compare
- 12 Solomon Islands 47.3% compare
- 13 Eswatini 47.0% compare
- 14 Samoa 46.1% compare
- 15 Vanuatu 46.1% compare
More public sector data for Latin America & Caribbean (excluding high income)
- Arms imports 611.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9814 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0001 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 64.69 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 611.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 106.17 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0105 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 12.04 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 66.10 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.76 SIPRI trend indicator values per square kilometre (2023)
All data for Latin America & Caribbean (excluding high income) →
Frequently asked questions
- What is compensation of employees in Latin America & Caribbean (excluding high income)?
- Compensation of employees in Latin America & Caribbean (excluding high income) was 32.0% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Latin America & Caribbean (excluding high income)?
- The highest recorded value was 37.2% in 2010.
- What is the lowest compensation of employees recorded in Latin America & Caribbean (excluding high income)?
- The lowest recorded value was 26.2% in 1999.
- How does Latin America & Caribbean (excluding high income) rank for compensation of employees?
- Latin America & Caribbean (excluding high income) ranks 12th out of 41 groups with data for 2023.
- Is compensation of employees rising or falling in Latin America & Caribbean (excluding high income)?
- Over the last ten years it is down 6.3%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean (excluding high income) data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Compensation of employees (% of expense). Statizoid updates them automatically from the source API.
Download this data
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.