Military expenditure in Latin America & Caribbean
Latin America & Caribbean: Military expenditure was 1.1% in 2024. ▼ Falling
Latest (2024)
1.1%
Change on year
up 7.1%
Rank
39th
of 45 groups
All-time high
2.3%
in 1978
All-time low
1.1%
in 2023
Years of data
65
1960–2024
Military expenditure in Latin America & Caribbean, 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in % of GDP.
Analysis
In 2024, military expenditure in Latin America & Caribbean stood at 1.1%.
Compared with earlier readings it is up 7.1% on the previous year and down 11.4% over ten years.
Over the whole period, military expenditure in Latin America & Caribbean peaked at 2.3% in 1978 and was at its lowest, 1.1%, in 2023.
That places Latin America & Caribbean 39th out of 45 groups with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 65 years of available data.
Military expenditure in Latin America & Caribbean, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 2.0% | — |
| 1961 | 1.9% | -4.4% |
| 1962 | 2.2% | +12.6% |
| 1963 | 2.0% | -8.6% |
| 1964 | 1.7% | -14.4% |
| 1965 | 2.0% | +14.7% |
| 1966 | 1.9% | -1.9% |
| 1967 | 2.1% | +7.3% |
| 1968 | 1.9% | -9.9% |
| 1969 | 1.9% | +0.6% |
| 1970 | 2.1% | +12.0% |
| 1971 | 2.2% | +6.0% |
| 1972 | 2.2% | -3.1% |
| 1973 | 2.1% | -3.2% |
| 1974 | 1.9% | -7.0% |
| 1975 | 2.0% | +0.5% |
| 1976 | 2.1% | +9.6% |
| 1977 | 2.2% | +3.9% |
| 1978 | 2.3% | +1.6% |
| 1979 | 2.0% | -12.3% |
| 1980 | 1.6% | -18.2% |
| 1981 | 1.7% | +3.3% |
| 1982 | 1.8% | +7.1% |
| 1983 | 1.9% | +7.9% |
| 1984 | 1.7% | -11.2% |
| 1985 | 1.6% | -4.7% |
| 1986 | 1.7% | +0.6% |
| 1987 | 1.8% | +11.3% |
| 1988 | 1.8% | -1.1% |
| 1989 | 2.0% | +12.7% |
| 1990 | 1.7% | -17.9% |
| 1991 | 1.4% | -14.0% |
| 1992 | 1.3% | -10.1% |
| 1993 | 1.3% | +3.1% |
| 1994 | 1.4% | +6.5% |
| 1995 | 1.6% | +10.0% |
| 1996 | 1.5% | -5.1% |
| 1997 | 1.3% | -9.6% |
| 1998 | 1.4% | +2.2% |
| 1999 | 1.3% | -5.8% |
| 2000 | 1.3% | -2.8% |
| 2001 | 1.3% | +2.4% |
| 2002 | 1.2% | -6.1% |
| 2003 | 1.1% | -5.8% |
| 2004 | 1.1% | -0.8% |
| 2005 | 1.2% | +6.8% |
| 2006 | 1.2% | -1.3% |
| 2007 | 1.2% | +3.8% |
| 2008 | 1.3% | +3.9% |
| 2009 | 1.4% | +8.9% |
| 2010 | 1.4% | -2.6% |
| 2011 | 1.3% | -5.7% |
| 2012 | 1.3% | +1.5% |
| 2013 | 1.3% | +0.4% |
| 2014 | 1.3% | -2.6% |
| 2015 | 1.2% | -2.6% |
| 2016 | 1.2% | -1.5% |
| 2017 | 1.3% | +4.9% |
| 2018 | 1.3% | -2.5% |
| 2019 | 1.2% | -2.3% |
| 2020 | 1.3% | +6.3% |
| 2021 | 1.1% | -12.8% |
| 2022 | 1.1% | -6.4% |
| 2023 | 1.1% | -0.6% |
| 2024 | 1.1% | +7.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2.0% | 1.7% | 2.2% | 10 |
| 1970s | 2.1% | 1.9% | 2.3% | 10 |
| 1980s | 1.8% | 1.6% | 2.0% | 10 |
| 1990s | 1.4% | 1.3% | 1.7% | 10 |
| 2000s | 1.2% | 1.1% | 1.4% | 10 |
| 2010s | 1.3% | 1.2% | 1.4% | 10 |
| 2020s | 1.1% | 1.1% | 1.3% | 5 |
Countries ranked near Latin America & Caribbean
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 military expenditure in Latin America & Caribbean?
- Military expenditure in Latin America & Caribbean was 1.1% 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?
- The highest recorded value was 2.3% in 1978.
- What is the lowest military expenditure recorded in Latin America & Caribbean?
- The lowest recorded value was 1.1% in 2023.
- How does Latin America & Caribbean rank for military expenditure?
- Latin America & Caribbean ranks 39th out of 45 groups with data for 2024.
- Is military expenditure rising or falling in Latin America & Caribbean?
- Over the last ten years it is down 11.4%. The long-run trend across the full record is falling.
- Where does this Latin America & Caribbean data come from?
- The figures come from SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), published as part of Military expenditure (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Military expenditure by country as percentage of gross domestic product