Goods and services expense in Latin America & the Caribbean (IDA & IBRD countries)
Latin America & the Caribbean (IDA & IBRD countries): Goods and services expense was 11.7% in 2023. ▼ Falling
Goods and services expense in Latin America & the Caribbean (IDA & IBRD countries), 1998–2023
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 & the Caribbean (IDA & IBRD countries) is 11.7%, measured in 2023.
The figure 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 & the Caribbean (IDA & IBRD countries) peaked at 15.8% in 2012 and was at its lowest, 11.3%, in 2019.
Latin America & the Caribbean (IDA & IBRD countries) ranks 24th of 41 groups on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 26 years of available data.
Goods and services expense in Latin America & the Caribbean (IDA & IBRD countries), year by year
| Year | % of expense | Change |
|---|---|---|
| 1998 | 14.9% | — |
| 1999 | 14.3% | -3.5% |
| 2000 | 13.0% | -9.4% |
| 2001 | 14.9% | +14.5% |
| 2002 | 14.5% | -2.4% |
| 2003 | 13.4% | -7.4% |
| 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 |
|---|---|---|---|---|
| 1990s | 14.6% | 14.3% | 14.9% | 2 |
| 2000s | 14.1% | 12.8% | 15.0% | 10 |
| 2010s | 13.1% | 11.3% | 15.8% | 10 |
| 2020s | 12.8% | 11.4% | 14.1% | 4 |
Countries ranked near Latin America & the Caribbean (IDA & IBRD countries)
- 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 & 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 goods and services expense in Latin America & the Caribbean (IDA & IBRD countries)?
- Goods and services expense in Latin America & the Caribbean (IDA & IBRD countries) 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 & the Caribbean (IDA & IBRD countries)?
- The highest recorded value was 15.8% in 2012.
- What is the lowest goods and services expense recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The lowest recorded value was 11.3% in 2019.
- How does Latin America & the Caribbean (IDA & IBRD countries) rank for goods and services expense?
- Latin America & the Caribbean (IDA & IBRD countries) ranks 24th out of 41 groups with data for 2023.
- Is goods and services expense rising or falling in Latin America & the Caribbean (IDA & IBRD countries)?
- 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 & 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 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.