Subsidies and other transfers in Latin America & Caribbean
Latin America & Caribbean: Subsidies and other transfers was 43.6% in 2023. ▲ Rising
Subsidies and other transfers in Latin America & Caribbean, 2003–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
Latin America & Caribbean recorded 43.6% for subsidies and other transfers in 2023. That is the highest value across all 21 years on record.
That represents a change of up 19.1% on the previous year and up 29.5% over ten years.
Over the whole period, subsidies and other transfers in Latin America & Caribbean peaked at 43.6% in 2023 and was at its lowest, 33.7%, in 2013.
Latin America & Caribbean ranks 15th of 40 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 21 years of available data.
Subsidies and other transfers in Latin America & Caribbean, year by year
| Year | % of expense | Change |
|---|---|---|
| 2003 | 34.1% | — |
| 2004 | 36.4% | +6.6% |
| 2005 | 35.2% | -3.3% |
| 2006 | 35.7% | +1.6% |
| 2007 | 37.1% | +3.7% |
| 2008 | 37.2% | +0.4% |
| 2009 | 36.0% | -3.2% |
| 2010 | 39.2% | +8.9% |
| 2011 | 34.0% | -13.3% |
| 2012 | 37.2% | +9.4% |
| 2013 | 33.7% | -9.4% |
| 2014 | 35.2% | +4.4% |
| 2015 | 36.2% | +2.8% |
| 2016 | 35.9% | -0.6% |
| 2017 | 35.3% | -1.9% |
| 2018 | 33.7% | -4.4% |
| 2019 | 34.0% | +0.8% |
| 2020 | 37.0% | +8.7% |
| 2021 | 37.0% | +0.1% |
| 2022 | 36.6% | -1.0% |
| 2023 | 43.6% | +19.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 35.9% | 34.1% | 37.2% | 7 |
| 2010s | 35.4% | 33.7% | 39.2% | 10 |
| 2020s | 38.6% | 36.6% | 43.6% | 4 |
Countries ranked near Latin America & Caribbean
- 12 Australia 69.4% compare
- 13 North Macedonia 69.1% compare
- 14 Kazakhstan 69.0% compare
- 15 Canada 68.9% compare
- 16 Argentina 68.8% compare
- 17 Korea 68.5% compare
- 18 Republic of Moldova 66.0% compare
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 subsidies and other transfers in Latin America & Caribbean?
- Subsidies and other transfers in Latin America & Caribbean was 43.6% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest subsidies and other transfers recorded in Latin America & Caribbean?
- The highest recorded value was 43.6% in 2023.
- What is the lowest subsidies and other transfers recorded in Latin America & Caribbean?
- The lowest recorded value was 33.7% in 2013.
- How does Latin America & Caribbean rank for subsidies and other transfers?
- Latin America & Caribbean ranks 15th out of 40 groups with data for 2023.
- Is subsidies and other transfers rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 29.5%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Subsidies and other transfers (% of expense). Statizoid updates them automatically from the source API.
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About this data
Subsidies are current unrequited payments that government units, including nonresident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services that they produce, sell, export or import. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.