Goods and services expense in Latin America & Caribbean (excluding high income)
Latin America & Caribbean (excluding high income): Goods and services expense was 14.0% in 2023. ▼ Falling
Goods and services expense in Latin America & Caribbean (excluding high income), 2000–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
The most recent figure for goods and services expense in Latin America & Caribbean (excluding high income) is 14.0%, measured in 2023.
Compared with earlier readings it is down 7.1% on the previous year and down 11.5% over ten years.
Over the whole period, goods and services expense in Latin America & Caribbean (excluding high income) peaked at 16.4% in 2012 and was at its lowest, 10.8%, in 2019.
That places Latin America & Caribbean (excluding high income) 21st out of 41 groups with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 17 years of available data.
Goods and services expense in Latin America & Caribbean (excluding high income), year by year
| Year | % of expense | Change |
|---|---|---|
| 2000 | 14.7% | — |
| 2003 | 13.6% | -7.3% |
| 2009 | 14.9% | +9.3% |
| 2010 | 13.4% | -10.1% |
| 2011 | 14.0% | +4.4% |
| 2012 | 16.4% | +17.0% |
| 2013 | 15.8% | -3.2% |
| 2014 | 14.9% | -5.9% |
| 2015 | 14.9% | +0.1% |
| 2016 | 12.4% | -16.6% |
| 2017 | 13.1% | +5.2% |
| 2018 | 12.5% | -4.2% |
| 2019 | 10.8% | -14.2% |
| 2020 | 11.8% | +9.3% |
| 2021 | 14.9% | +26.9% |
| 2022 | 15.1% | +1.1% |
| 2023 | 14.0% | -7.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 14.4% | 13.6% | 14.9% | 3 |
| 2010s | 13.8% | 10.8% | 16.4% | 10 |
| 2020s | 13.9% | 11.8% | 15.1% | 4 |
Countries ranked near Latin America & Caribbean (excluding high income)
- 18 Saint Kitts and Nevis 28.3% compare
- 19 Timor-Leste 28.3% compare
- 20 Seychelles 27.9% compare
- 21 Singapore 27.9% compare
- 22 Rwanda 27.8% compare
- 23 Congo, Democratic Republic of the 27.5% compare
- 24 Saudi Arabia 27.4% 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 goods and services expense in Latin America & Caribbean (excluding high income)?
- Goods and services expense in Latin America & Caribbean (excluding high income) was 14.0% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in Latin America & Caribbean (excluding high income)?
- The highest recorded value was 16.4% in 2012.
- What is the lowest goods and services expense recorded in Latin America & Caribbean (excluding high income)?
- The lowest recorded value was 10.8% in 2019.
- How does Latin America & Caribbean (excluding high income) rank for goods and services expense?
- Latin America & Caribbean (excluding high income) ranks 21st out of 41 groups with data for 2023.
- Is goods and services expense rising or falling in Latin America & Caribbean (excluding high income)?
- Over the last ten years it is down 11.5%. The long-run trend across the full record is falling.
- 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 Goods and services expense (% of expense). Statizoid updates them automatically from the source API.
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About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for own account capital formation is excluded. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.