Social contributions in Latin America & the Caribbean (IDA & IBRD countries)
Latin America & the Caribbean (IDA & IBRD countries): Social contributions was 19.9% in 2024. ▲ Rising
Social contributions in Latin America & the Caribbean (IDA & IBRD countries), 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
Latin America & the Caribbean (IDA & IBRD countries) recorded 19.9% for social contributions in 2024. That is the highest value across all 25 years on record.
Compared with earlier readings it is up 11.0% on the previous year and up 63.5% over ten years.
Over the whole period, social contributions in Latin America & the Caribbean (IDA & IBRD countries) peaked at 19.9% in 2024 and was at its lowest, 8.8%, in 2007.
That places Latin America & the Caribbean (IDA & IBRD countries) 16th out of 22 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 25 years of available data.
Social contributions in Latin America & the Caribbean (IDA & IBRD countries), year by year
| Year | % of revenue | Change |
|---|---|---|
| 1998 | 9.7% | — |
| 1999 | 9.9% | +1.8% |
| 2000 | 9.8% | -1.4% |
| 2003 | 10.6% | +8.4% |
| 2004 | 9.5% | -10.5% |
| 2005 | 9.7% | +2.9% |
| 2006 | 9.3% | -4.5% |
| 2007 | 8.8% | -5.3% |
| 2008 | 9.9% | +12.4% |
| 2009 | 12.4% | +25.7% |
| 2010 | 12.1% | -3.2% |
| 2011 | 13.1% | +8.9% |
| 2012 | 12.4% | -5.4% |
| 2013 | 13.0% | +4.6% |
| 2014 | 12.2% | -6.2% |
| 2015 | 12.1% | -0.6% |
| 2016 | 12.1% | -0.2% |
| 2017 | 10.7% | -11.8% |
| 2018 | 11.5% | +7.8% |
| 2019 | 13.7% | +19.3% |
| 2020 | 17.0% | +23.8% |
| 2021 | 16.7% | -1.7% |
| 2022 | 17.6% | +5.2% |
| 2023 | 17.9% | +2.2% |
| 2024 | 19.9% | +11.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 9.8% | 9.7% | 9.9% | 2 |
| 2000s | 10.0% | 8.8% | 12.4% | 8 |
| 2010s | 12.3% | 10.7% | 13.7% | 10 |
| 2020s | 17.8% | 16.7% | 19.9% | 5 |
Countries ranked near Latin America & the Caribbean (IDA & IBRD countries)
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 social contributions in Latin America & the Caribbean (IDA & IBRD countries)?
- Social contributions in Latin America & the Caribbean (IDA & IBRD countries) was 19.9% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest social contributions recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The highest recorded value was 19.9% in 2024.
- What is the lowest social contributions recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The lowest recorded value was 8.8% in 2007.
- How does Latin America & the Caribbean (IDA & IBRD countries) rank for social contributions?
- Latin America & the Caribbean (IDA & IBRD countries) ranks 16th out of 22 groups with data for 2024.
- Is social contributions rising or falling in Latin America & the Caribbean (IDA & IBRD countries)?
- Over the last ten years it is up 63.5%. The long-run trend across the full record is rising.
- 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 Social contributions (% of revenue). Statizoid updates them automatically from the source API.
Download this data
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About this data
Social contributions are actual or imputed contributions payable to social insurance schemes to make provisions for social benefits to be paid. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.