Latin America & Caribbean Military Spending/Defense Budget 1960-2023
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 2021 was $56.26B, a 3.15% increase from 2020.
- Latin America & Caribbean military spending/defense budget for 2020 was $54.54B, a 9.95% decline from 2019.
- Latin America & Caribbean military spending/defense budget for 2019 was $60.57B, a 5.36% decline from 2018.
- Latin America & Caribbean military spending/defense budget for 2018 was $63.99B, a 3.95% decline from 2017.
| Latin America & Caribbean Military Spending/Defense Budget - Historical Data |
| Year |
Billions of US $ |
% of GDP |
| 2021 |
$56.26B |
1.20% |
| 2020 |
$54.54B |
1.32% |
| 2019 |
$60.57B |
1.22% |
| 2018 |
$63.99B |
1.28% |
| 2017 |
$66.63B |
1.27% |
| 2016 |
$56.69B |
1.25% |
| 2015 |
$59.43B |
1.26% |
| 2014 |
$72.78B |
1.28% |
| 2013 |
$78.50B |
1.33% |
| 2012 |
$75.36B |
1.32% |
| 2011 |
$73.82B |
1.30% |
| 2010 |
$68.48B |
1.37% |
| 2009 |
$56.24B |
1.41% |
| 2008 |
$56.40B |
1.30% |
| 2007 |
$46.58B |
1.25% |
| 2006 |
$37.95B |
1.21% |
| 2005 |
$32.71B |
1.23% |
| 2004 |
$25.17B |
1.15% |
| 2003 |
$22.19B |
1.16% |
| 2002 |
$22.86B |
1.24% |
| 2001 |
$27.33B |
1.32% |
| 2000 |
$27.24B |
1.29% |
| 1999 |
$25.43B |
1.32% |
| 1998 |
$30.19B |
1.41% |
| 1997 |
$29.32B |
1.37% |
| 1996 |
$29.58B |
1.51% |
| 1995 |
$28.63B |
1.60% |
| 1994 |
$24.11B |
1.47% |
| 1993 |
$19.23B |
1.40% |
| 1992 |
$15.67B |
1.32% |
| 1991 |
$16.00B |
1.48% |
| 1990 |
$18.39B |
1.74% |
| 1989 |
$16.67B |
2.06% |
| 1988 |
$14.63B |
1.82% |
| 1987 |
$13.01B |
1.84% |
| 1986 |
$10.97B |
1.65% |
| 1985 |
$10.77B |
1.64% |
| 1984 |
$11.49B |
1.72% |
| 1983 |
$12.37B |
1.94% |
| 1982 |
$13.49B |
1.85% |
| 1981 |
$16.54B |
1.67% |
| 1980 |
$15.26B |
1.62% |
| 1979 |
$12.83B |
1.98% |
| 1978 |
$10.05B |
2.26% |
| 1977 |
$8.80B |
2.22% |
| 1976 |
$8.00B |
2.14% |
| 1975 |
$6.15B |
1.95% |
| 1974 |
$6.66B |
1.94% |
| 1973 |
$5.40B |
2.09% |
| 1972 |
$4.05B |
2.16% |
| 1971 |
$3.46B |
2.23% |
| 1970 |
$2.86B |
2.10% |
| 1969 |
$2.29B |
1.88% |
| 1968 |
$2.08B |
1.87% |
| 1967 |
$2.12B |
2.07% |
| 1966 |
$1.98B |
1.93% |
| 1965 |
$1.82B |
1.97% |
| 1964 |
$1.48B |
1.71% |
| 1963 |
$1.56B |
2.00% |
| 1962 |
$1.47B |
2.23% |
| 1961 |
$0.95B |
1.88% |
| 1960 |
$1.04B |
2.18% |
