Compensation of employees in Latin America & the Caribbean (IDA & IBRD countries)
Latin America & the Caribbean (IDA & IBRD countries): Compensation of employees was 24.5% in 2023. ▬ Flat
Compensation of employees in Latin America & the Caribbean (IDA & IBRD countries), 1990–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
Latin America & the Caribbean (IDA & IBRD countries) recorded 24.5% for compensation of employees in 2023.
Compared with earlier readings it is down 12.3% on the previous year and down 15.8% over ten years.
Over the whole period, compensation of employees in Latin America & the Caribbean (IDA & IBRD countries) peaked at 35.3% in 1991 and was at its lowest, 24.0%, in 1990.
That places Latin America & the Caribbean (IDA & IBRD countries) 19th out of 41 groups with data for 2023, putting it in the middle of the range.
Compensation of employees in Latin America & the Caribbean (IDA & IBRD countries), year by year
| Year | % of expense | Change |
|---|---|---|
| 1990 | 24.0% | — |
| 1991 | 35.3% | +47.0% |
| 1992 | 31.4% | -11.2% |
| 1993 | 30.1% | -4.0% |
| 1994 | 28.3% | -6.0% |
| 1995 | 25.4% | -10.5% |
| 1998 | 25.4% | +0.3% |
| 1999 | 24.7% | -3.0% |
| 2000 | 28.3% | +14.4% |
| 2001 | 28.6% | +1.1% |
| 2002 | 34.3% | +20.2% |
| 2003 | 31.0% | -9.8% |
| 2004 | 28.2% | -8.9% |
| 2005 | 32.8% | +16.3% |
| 2006 | 33.0% | +0.6% |
| 2007 | 34.1% | +3.2% |
| 2008 | 31.3% | -8.2% |
| 2009 | 30.8% | -1.6% |
| 2010 | 29.6% | -4.1% |
| 2011 | 33.4% | +12.8% |
| 2012 | 29.3% | -12.3% |
| 2013 | 29.1% | -0.6% |
| 2014 | 28.3% | -2.8% |
| 2015 | 28.7% | +1.5% |
| 2016 | 32.3% | +12.4% |
| 2017 | 30.9% | -4.3% |
| 2018 | 32.9% | +6.5% |
| 2019 | 31.6% | -3.8% |
| 2020 | 30.9% | -2.2% |
| 2021 | 29.0% | -6.3% |
| 2022 | 27.9% | -3.5% |
| 2023 | 24.5% | -12.3% |
Biggest year-on-year movements
Years where Compensation of employees in Latin America & the Caribbean (IDA & IBRD countries) changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1991 | +47.0% | 24.0% | 35.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 28.1% | 24.0% | 35.3% | 8 |
| 2000s | 31.2% | 28.2% | 34.3% | 10 |
| 2010s | 30.6% | 28.3% | 33.4% | 10 |
| 2020s | 28.1% | 24.5% | 30.9% | 4 |
Countries ranked near Latin America & the Caribbean (IDA & IBRD countries)
More public sector data for Latin America & the Caribbean (IDA & IBRD countries)
- Arms imports 644.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9954 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 67.27 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 644.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 113.41 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0109 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 10.62 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 73.38 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.32 SIPRI trend indicator values per square kilometre (2023)
All data for Latin America & the Caribbean (IDA & IBRD countries) →
Frequently asked questions
- What is compensation of employees in Latin America & the Caribbean (IDA & IBRD countries)?
- Compensation of employees in Latin America & the Caribbean (IDA & IBRD countries) was 24.5% 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 & the Caribbean (IDA & IBRD countries)?
- The highest recorded value was 35.3% in 1991.
- What is the lowest compensation of employees recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The lowest recorded value was 24.0% in 1990.
- How does Latin America & the Caribbean (IDA & IBRD countries) rank for compensation of employees?
- Latin America & the Caribbean (IDA & IBRD countries) ranks 19th out of 41 groups with data for 2023.
- Is compensation of employees rising or falling in Latin America & the Caribbean (IDA & IBRD countries)?
- Over the last ten years it is down 15.8%. The long-run trend across the full record is flat.
- Where does this Latin America & the Caribbean (IDA & IBRD countries) 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.
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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.