Latin America & Caribbean Military Spending/Defense Budget 1960-2024
Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).
- Latin America & Caribbean military spending/defense budget for 2022 was $57.26B, a 0.77% increase from 2021.
- Latin America & Caribbean military spending/defense budget for 2021 was $56.82B, a 4.19% increase from 2020.
- Latin America & Caribbean military spending/defense budget for 2020 was $54.54B, a 9.96% decline from 2019.
- Latin America & Caribbean military spending/defense budget for 2019 was $60.57B, a 5.35% decline from 2018.
Latin America & Caribbean Military Spending/Defense Budget - Historical Data |
Year |
Billions of US $ |
% of GDP |
2022 |
$57.26B |
1.05% |
2021 |
$56.82B |
1.17% |
2020 |
$54.54B |
1.30% |
2019 |
$60.57B |
1.22% |
2018 |
$63.99B |
1.27% |
2017 |
$66.63B |
1.27% |
2016 |
$56.69B |
1.24% |
2015 |
$59.43B |
1.25% |
2014 |
$72.78B |
1.28% |
2013 |
$78.50B |
1.32% |
2012 |
$75.36B |
1.31% |
2011 |
$73.82B |
1.29% |
2010 |
$68.48B |
1.36% |
2009 |
$56.24B |
1.40% |
2008 |
$56.40B |
1.29% |
2007 |
$46.58B |
1.24% |
2006 |
$37.95B |
1.20% |
2005 |
$32.71B |
1.21% |
2004 |
$25.17B |
1.14% |
2003 |
$22.19B |
1.15% |
2002 |
$22.86B |
1.22% |
2001 |
$27.33B |
1.30% |
2000 |
$27.24B |
1.27% |
1999 |
$25.43B |
1.31% |
1998 |
$30.19B |
1.39% |
1997 |
$29.32B |
1.36% |
1996 |
$29.58B |
1.50% |
1995 |
$28.63B |
1.58% |
1994 |
$24.11B |
1.44% |
1993 |
$19.23B |
1.36% |
1992 |
$15.67B |
1.31% |
1991 |
$16.00B |
1.45% |
1990 |
$18.39B |
1.69% |
1989 |
$16.67B |
2.06% |
1988 |
$14.63B |
1.65% |
1987 |
$13.01B |
1.89% |
1986 |
$10.97B |
1.91% |
1985 |
$10.77B |
1.74% |
1984 |
$11.49B |
1.92% |
1983 |
$12.37B |
2.20% |
1982 |
$13.49B |
1.88% |
1981 |
$16.54B |
1.55% |
1980 |
$15.26B |
1.48% |
1979 |
$12.83B |
1.60% |
1978 |
$10.05B |
1.64% |
1977 |
$8.80B |
1.73% |
1976 |
$8.00B |
1.48% |
1975 |
$6.15B |
1.57% |
1974 |
$6.66B |
1.90% |
1973 |
$5.40B |
1.98% |
1972 |
$4.05B |
1.96% |
1971 |
$3.46B |
2.03% |
1970 |
$2.86B |
1.61% |
1969 |
$2.29B |
1.40% |
1968 |
$2.08B |
1.47% |
1967 |
$2.12B |
1.63% |
1966 |
$1.98B |
1.65% |
1965 |
$1.82B |
1.73% |
1964 |
$1.48B |
1.74% |
1963 |
$1.56B |
1.89% |
1962 |
$1.47B |
1.86% |
1961 |
$0.95B |
1.58% |
1960 |
$1.04B |
1.91% |