Military expenditure in Latin America & the Caribbean (IDA & IBRD countries)
Latin America & the Caribbean (IDA & IBRD countries): Military expenditure was 73.38 billion current USD in 2024. ◆ Volatile
Latest (2024)
73.38 billion current USD
Change on year
up 10.6%
Rank
26th
of 44 groups
All-time high
78.34 billion current USD
in 2013
All-time low
952.12 million current USD
in 1961
Years of data
65
1960–2024
Military expenditure in Latin America & the Caribbean (IDA & IBRD countries), 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current USD.
Analysis
Latin America & the Caribbean (IDA & IBRD countries) recorded 73.38 billion current USD for military expenditure in 2024.
Compared with earlier readings it is up 10.6% on the previous year and up 1.1% over ten years.
Over the whole period, military expenditure in Latin America & the Caribbean (IDA & IBRD countries) peaked at 78.34 billion current USD in 2013 and was at its lowest, 952.12 million current USD, in 1961.
That places Latin America & the Caribbean (IDA & IBRD countries) 26th out of 44 groups with data for 2024, putting it 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 & the Caribbean (IDA & IBRD countries), year by year
| Year | current USD | Change |
|---|---|---|
| 1960 | 1.04 billion current USD | — |
| 1961 | 952.12 million current USD | -8.5% |
| 1962 | 1.47 billion current USD | +54.4% |
| 1963 | 1.56 billion current USD | +6.0% |
| 1964 | 1.48 billion current USD | -5.1% |
| 1965 | 1.82 billion current USD | +23.4% |
| 1966 | 1.98 billion current USD | +8.3% |
| 1967 | 2.12 billion current USD | +7.2% |
| 1968 | 2.08 billion current USD | -1.7% |
| 1969 | 2.29 billion current USD | +10.1% |
| 1970 | 2.86 billion current USD | +24.6% |
| 1971 | 3.46 billion current USD | +21.2% |
| 1972 | 4.05 billion current USD | +16.9% |
| 1973 | 5.40 billion current USD | +33.5% |
| 1974 | 6.66 billion current USD | +23.3% |
| 1975 | 6.15 billion current USD | -7.7% |
| 1976 | 8.00 billion current USD | +30.0% |
| 1977 | 8.80 billion current USD | +10.1% |
| 1978 | 10.05 billion current USD | +14.2% |
| 1979 | 12.83 billion current USD | +27.7% |
| 1980 | 15.27 billion current USD | +19.0% |
| 1981 | 16.54 billion current USD | +8.3% |
| 1982 | 13.49 billion current USD | -18.4% |
| 1983 | 12.37 billion current USD | -8.4% |
| 1984 | 11.49 billion current USD | -7.1% |
| 1985 | 10.77 billion current USD | -6.3% |
| 1986 | 10.97 billion current USD | +1.9% |
| 1987 | 13.01 billion current USD | +18.6% |
| 1988 | 14.63 billion current USD | +12.5% |
| 1989 | 16.67 billion current USD | +13.9% |
| 1990 | 18.39 billion current USD | +10.3% |
| 1991 | 16.00 billion current USD | -13.0% |
| 1992 | 15.67 billion current USD | -2.1% |
| 1993 | 19.23 billion current USD | +22.8% |
| 1994 | 24.11 billion current USD | +25.4% |
| 1995 | 28.63 billion current USD | +18.7% |
| 1996 | 29.58 billion current USD | +3.3% |
| 1997 | 29.32 billion current USD | -0.9% |
| 1998 | 30.19 billion current USD | +3.0% |
| 1999 | 25.43 billion current USD | -15.8% |
| 2000 | 27.24 billion current USD | +7.1% |
| 2001 | 27.33 billion current USD | +0.3% |
| 2002 | 22.86 billion current USD | -16.4% |
| 2003 | 21.89 billion current USD | -4.2% |
| 2004 | 25.11 billion current USD | +14.7% |
| 2005 | 32.63 billion current USD | +30.0% |
| 2006 | 37.87 billion current USD | +16.1% |
| 2007 | 46.50 billion current USD | +22.8% |
| 2008 | 56.35 billion current USD | +21.2% |
| 2009 | 56.14 billion current USD | -0.4% |
| 2010 | 68.60 billion current USD | +22.2% |
| 2011 | 73.73 billion current USD | +7.5% |
| 2012 | 75.23 billion current USD | +2.0% |
| 2013 | 78.34 billion current USD | +4.1% |
| 2014 | 72.58 billion current USD | -7.4% |
| 2015 | 59.24 billion current USD | -18.4% |
| 2016 | 56.53 billion current USD | -4.6% |
| 2017 | 66.47 billion current USD | +17.6% |
| 2018 | 63.83 billion current USD | -4.0% |
| 2019 | 60.55 billion current USD | -5.1% |
| 2020 | 54.48 billion current USD | -10.0% |
| 2021 | 55.91 billion current USD | +2.6% |
| 2022 | 59.52 billion current USD | +6.5% |
| 2023 | 66.33 billion current USD | +11.4% |
| 2024 | 73.38 billion current USD | +10.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1.68 billion current USD | 952.12 million current USD | 2.29 billion current USD | 10 |
| 1970s | 6.83 billion current USD | 2.86 billion current USD | 12.83 billion current USD | 10 |
| 1980s | 13.52 billion current USD | 10.77 billion current USD | 16.67 billion current USD | 10 |
| 1990s | 23.65 billion current USD | 15.67 billion current USD | 30.19 billion current USD | 10 |
| 2000s | 35.39 billion current USD | 21.89 billion current USD | 56.35 billion current USD | 10 |
| 2010s | 67.51 billion current USD | 56.53 billion current USD | 78.34 billion current USD | 10 |
| 2020s | 61.92 billion current USD | 54.48 billion current USD | 73.38 billion current USD | 5 |
Countries ranked near Latin America & the Caribbean (IDA & IBRD countries)
- 23 Mexico 16.73 billion current USD compare
- 24 Qatar 15.41 billion current USD compare
- 25 Colombia 15.10 billion current USD compare
- 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
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 military expenditure in Latin America & the Caribbean (IDA & IBRD countries)?
- Military expenditure in Latin America & the Caribbean (IDA & IBRD countries) was 73.38 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 & the Caribbean (IDA & IBRD countries)?
- The highest recorded value was 78.34 billion current USD in 2013.
- What is the lowest military expenditure recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The lowest recorded value was 952.12 million current USD in 1961.
- How does Latin America & the Caribbean (IDA & IBRD countries) rank for military expenditure?
- Latin America & the Caribbean (IDA & IBRD countries) ranks 26th out of 44 groups with data for 2024.
- Is military expenditure rising or falling in Latin America & the Caribbean (IDA & IBRD countries)?
- Over the last ten years it is up 1.1%. The long-run trend across the full record is volatile.
- Where does this Latin America & the Caribbean (IDA & IBRD countries) 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.
Download this data
CSV · JSON — 65 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Military spending USD, in current prices (converted at the exchange rate for the given year)