Military expenditure in Latin America & Caribbean
Latin America & Caribbean: Military expenditure was 73.38 billion current USD in 2024. ◆ Volatile
Military expenditure in Latin America & Caribbean, 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current USD.
Analysis
Latin America & Caribbean recorded 73.38 billion current USD for military expenditure in 2024.
That represents a change of up 10.6% on the previous year and up 0.9% over ten years.
Over the whole period, military expenditure in Latin America & Caribbean peaked at 78.46 billion current USD in 2013 and was at its lowest, 952.12 million current USD, in 1961.
The series is highly variable year to year, so single readings are best treated with caution.
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 | 35.47 billion current USD | 22.19 billion current USD | 56.44 billion current USD | 10 |
| 2010s | 67.62 billion current USD | 56.66 billion current USD | 78.46 billion current USD | 10 |
| 2020s | 61.92 billion current USD | 54.48 billion current USD | 73.38 billion current USD | 5 |
More public sector data for Latin America & Caribbean
- Arms imports 644.00 million SIPRI trend indicator values (2024)
- Tax revenue 14.7% (2024)
- Taxes on income, profits and capital gains 29.1% (2024)
- Taxes on goods and services 32.6% (2024)
- Net investment in nonfinancial assets 0.6% (2024)
- Net lending (+) / net borrowing (-) -4.7% (2024)
- Interest payments 13.9% (2024)
- Grants and other revenue 18.4% (2024)
- Interest payments 12.6% (2023)
- Other taxes 1.3% (2024)
Frequently asked questions
- What is military expenditure in Latin America & Caribbean?
- Military expenditure in Latin America & Caribbean 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 & Caribbean?
- The highest recorded value was 78.46 billion current USD in 2013.
- What is the lowest military expenditure recorded in Latin America & Caribbean?
- The lowest recorded value was 952.12 million current USD in 1961.
- Is military expenditure rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 0.9%. The long-run trend across the full record is volatile.
- 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 (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)