Goods and services expense in Latin America & Caribbean
Latin America & Caribbean: Goods and services expense was 11.7% in 2023. ▼ Falling
Goods and services expense in Latin America & Caribbean, 2000–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
In 2023, goods and services expense in Latin America & Caribbean stood at 11.7%.
Compared with earlier readings it is down 16.8% on the previous year and down 24.2% over ten years.
Over the whole period, goods and services expense in Latin America & Caribbean peaked at 15.8% in 2012 and was at its lowest, 11.3%, in 2019.
That places Latin America & Caribbean 24th 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 22 years of available data.
Goods and services expense in Latin America & Caribbean, year by year
| Year | % of expense | Change |
|---|---|---|
| 2000 | 13.0% | — |
| 2003 | 13.4% | +3.5% |
| 2004 | 13.3% | -1.3% |
| 2005 | 14.7% | +10.6% |
| 2006 | 15.0% | +1.9% |
| 2007 | 14.9% | -0.7% |
| 2008 | 14.8% | -0.6% |
| 2009 | 12.8% | -13.5% |
| 2010 | 12.8% | +0.0% |
| 2011 | 13.0% | +2.0% |
| 2012 | 15.8% | +21.0% |
| 2013 | 15.5% | -1.7% |
| 2014 | 14.2% | -8.5% |
| 2015 | 13.2% | -7.2% |
| 2016 | 11.5% | -12.6% |
| 2017 | 12.3% | +6.9% |
| 2018 | 11.3% | -7.8% |
| 2019 | 11.3% | -0.5% |
| 2020 | 11.4% | +0.8% |
| 2021 | 13.8% | +21.2% |
| 2022 | 14.1% | +2.4% |
| 2023 | 11.7% | -16.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 14.0% | 12.8% | 15.0% | 8 |
| 2010s | 13.1% | 11.3% | 15.8% | 10 |
| 2020s | 12.8% | 11.4% | 14.1% | 4 |
Countries ranked near Latin America & Caribbean
- 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
- 25 Congo 27.1% compare
- 26 Marshall Islands 25.9% compare
- 27 Uganda 25.6% compare
More public sector data for Latin America & Caribbean
- Arms imports 644.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9725 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 110.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0104 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 19.2 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is goods and services expense in Latin America & Caribbean?
- Goods and services expense in Latin America & Caribbean was 11.7% 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?
- The highest recorded value was 15.8% in 2012.
- What is the lowest goods and services expense recorded in Latin America & Caribbean?
- The lowest recorded value was 11.3% in 2019.
- How does Latin America & Caribbean rank for goods and services expense?
- Latin America & Caribbean ranks 24th out of 41 groups with data for 2023.
- Is goods and services expense rising or falling in Latin America & Caribbean?
- Over the last ten years it is down 24.2%. The long-run trend across the full record is falling.
- Where does this Latin America & Caribbean 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.