Military expenditure in Latin America & Caribbean (excluding high income)
Latin America & Caribbean (excluding high income): Military expenditure was 66.10 billion current USD in 2024. ◆ Volatile
Latest (2024)
66.10 billion current USD
Change on year
up 12.0%
Rank
29th
of 44 groups
All-time high
71.64 billion current USD
in 2013
All-time low
791.18 million current USD
in 1961
Years of data
65
1960–2024
Military expenditure in Latin America & Caribbean (excluding high income), 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current USD.
Analysis
Latin America & Caribbean (excluding high income) recorded 66.10 billion current USD for military expenditure in 2024.
That represents a change of up 12.0% on the previous year and down 0.4% over ten years.
Over the whole period, military expenditure in Latin America & Caribbean (excluding high income) peaked at 71.64 billion current USD in 2013 and was at its lowest, 791.18 million current USD, in 1961.
Latin America & Caribbean (excluding high income) ranks 29th of 44 groups on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Military expenditure in Latin America & Caribbean (excluding high income), year by year
| Year | current USD | Change |
|---|---|---|
| 1960 | 914.31 million current USD | — |
| 1961 | 791.18 million current USD | -13.5% |
| 1962 | 1.31 billion current USD | +65.3% |
| 1963 | 1.41 billion current USD | +7.5% |
| 1964 | 1.33 billion current USD | -5.5% |
| 1965 | 1.66 billion current USD | +24.7% |
| 1966 | 1.79 billion current USD | +8.0% |
| 1967 | 1.94 billion current USD | +8.1% |
| 1968 | 1.90 billion current USD | -1.6% |
| 1969 | 2.11 billion current USD | +10.7% |
| 1970 | 2.46 billion current USD | +16.8% |
| 1971 | 2.80 billion current USD | +13.8% |
| 1972 | 3.24 billion current USD | +15.7% |
| 1973 | 4.27 billion current USD | +31.7% |
| 1974 | 5.35 billion current USD | +25.3% |
| 1975 | 5.46 billion current USD | +2.1% |
| 1976 | 7.22 billion current USD | +32.1% |
| 1977 | 7.68 billion current USD | +6.4% |
| 1978 | 8.80 billion current USD | +14.6% |
| 1979 | 11.20 billion current USD | +27.3% |
| 1980 | 12.94 billion current USD | +15.6% |
| 1981 | 13.48 billion current USD | +4.1% |
| 1982 | 10.71 billion current USD | -20.5% |
| 1983 | 10.57 billion current USD | -1.3% |
| 1984 | 9.78 billion current USD | -7.5% |
| 1985 | 9.39 billion current USD | -4.0% |
| 1986 | 9.58 billion current USD | +2.1% |
| 1987 | 11.50 billion current USD | +20.0% |
| 1988 | 13.26 billion current USD | +15.3% |
| 1989 | 15.27 billion current USD | +15.2% |
| 1990 | 16.95 billion current USD | +11.0% |
| 1991 | 14.61 billion current USD | -13.8% |
| 1992 | 14.05 billion current USD | -3.8% |
| 1993 | 17.40 billion current USD | +23.9% |
| 1994 | 22.07 billion current USD | +26.8% |
| 1995 | 26.17 billion current USD | +18.6% |
| 1996 | 26.99 billion current USD | +3.1% |
| 1997 | 26.50 billion current USD | -1.8% |
| 1998 | 27.40 billion current USD | +3.4% |
| 1999 | 22.70 billion current USD | -17.1% |
| 2000 | 24.57 billion current USD | +8.2% |
| 2001 | 24.89 billion current USD | +1.3% |
| 2002 | 20.70 billion current USD | -16.8% |
| 2003 | 19.80 billion current USD | -4.3% |
| 2004 | 22.10 billion current USD | +11.6% |
| 2005 | 29.14 billion current USD | +31.9% |
| 2006 | 33.57 billion current USD | +15.2% |
| 2007 | 42.00 billion current USD | +25.1% |
| 2008 | 51.06 billion current USD | +21.6% |
| 2009 | 51.59 billion current USD | +1.0% |
| 2010 | 62.87 billion current USD | +21.9% |
| 2011 | 67.13 billion current USD | +6.8% |
| 2012 | 68.76 billion current USD | +2.4% |
| 2013 | 71.64 billion current USD | +4.2% |
| 2014 | 66.34 billion current USD | -7.4% |
| 2015 | 53.51 billion current USD | -19.3% |
| 2016 | 50.60 billion current USD | -5.4% |
| 2017 | 59.80 billion current USD | +18.2% |
| 2018 | 56.92 billion current USD | -4.8% |
| 2019 | 53.98 billion current USD | -5.2% |
| 2020 | 47.89 billion current USD | -11.3% |
| 2021 | 49.17 billion current USD | +2.7% |
| 2022 | 53.27 billion current USD | +8.3% |
| 2023 | 59.00 billion current USD | +10.8% |
| 2024 | 66.10 billion current USD | +12.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1.51 billion current USD | 791.18 million current USD | 2.11 billion current USD | 10 |
| 1970s | 5.85 billion current USD | 2.46 billion current USD | 11.20 billion current USD | 10 |
| 1980s | 11.65 billion current USD | 9.39 billion current USD | 15.27 billion current USD | 10 |
| 1990s | 21.48 billion current USD | 14.05 billion current USD | 27.40 billion current USD | 10 |
| 2000s | 31.94 billion current USD | 19.80 billion current USD | 51.59 billion current USD | 10 |
| 2010s | 61.15 billion current USD | 50.60 billion current USD | 71.64 billion current USD | 10 |
| 2020s | 55.09 billion current USD | 47.89 billion current USD | 66.10 billion current USD | 5 |
Countries ranked near Latin America & Caribbean (excluding high income)
- 26 Singapore 15.06 billion current USD compare
- 27 Sweden 12.04 billion current USD compare
- 28 Indonesia 11.04 billion current USD compare
- 29 Norway 10.44 billion current USD compare
- 30 Pakistan 10.17 billion current USD compare
- 31 Denmark 9.96 billion current USD compare
- 32 Romania 8.72 billion current USD 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 military expenditure in Latin America & Caribbean (excluding high income)?
- Military expenditure in Latin America & Caribbean (excluding high income) was 66.10 billion current USD in 2024, according to SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI).
- What is the highest military expenditure recorded in Latin America & Caribbean (excluding high income)?
- The highest recorded value was 71.64 billion current USD in 2013.
- What is the lowest military expenditure recorded in Latin America & Caribbean (excluding high income)?
- The lowest recorded value was 791.18 million current USD in 1961.
- How does Latin America & Caribbean (excluding high income) rank for military expenditure?
- Latin America & Caribbean (excluding high income) ranks 29th out of 44 groups with data for 2024.
- Is military expenditure rising or falling in Latin America & Caribbean (excluding high income)?
- Over the last ten years it is down 0.4%. The long-run trend across the full record is volatile.
- Where does this Latin America & Caribbean (excluding high income) data come from?
- The figures come from SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), published as part of Military expenditure (current USD). Statizoid updates them automatically from the source API.
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About this data
Military spending USD, in current prices (converted at the exchange rate for the given year)