Latin America & Caribbean Military Spending/Defense Budget 1960-2020

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 2018 was $64.18B, a 2.31% decline from 2017.
  • Latin America & Caribbean military spending/defense budget for 2017 was $65.70B, a 14.47% increase from 2016.
  • Latin America & Caribbean military spending/defense budget for 2016 was $57.39B, a 6.95% decline from 2015.
  • Latin America & Caribbean military spending/defense budget for 2015 was $61.68B, a 17.4% decline from 2014.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Billions of US $
World $1,782.35B
OECD members $1,132.51B
North America $670.42B
East Asia & Pacific $420.37B
European Union $230.96B
Euro Area $198.44B
South Asia $84.06B
Latin America & Caribbean $64.18B
Sub-Saharan Africa $18.32B
Latin America & Caribbean Military Spending/Defense Budget - Historical Data
Year Billions of US $ % of GDP
2018 $64.18B 1.26%
2017 $65.70B 1.26%
2016 $57.39B 1.24%
2015 $61.68B 1.28%
2014 $74.68B 1.29%
2013 $79.86B 1.33%
2012 $76.62B 1.32%
2011 $74.79B 1.30%
2010 $69.58B 1.38%
2009 $56.62B 1.40%
2008 $57.00B 1.30%
2007 $47.17B 1.25%
2006 $39.01B 1.23%
2005 $33.21B 1.23%
2004 $25.45B 1.15%
2003 $22.47B 1.16%
2002 $23.17B 1.24%
2001 $27.64B 1.32%
2000 $27.53B 1.28%
1999 $25.69B 1.33%
1998 $30.41B 1.41%
1997 $29.53B 1.37%
1996 $29.76B 1.51%
1995 $28.78B 1.59%
1994 $24.37B 1.48%
1993 $19.44B 1.41%
1992 $15.84B 1.32%
1991 $16.14B 1.55%
1990 $18.51B 1.74%
1989 $16.67B 2.05%
1988 $14.63B 1.82%
1987 $13.01B 1.79%
1986 $10.97B 1.62%
1985 $10.77B 1.63%
1984 $11.49B 1.67%
1983 $12.37B 1.91%
1982 $13.49B 1.84%
1981 $16.54B 1.66%
1980 $15.26B 1.61%
1979 $12.83B 1.97%
1978 $10.05B 2.09%
1977 $8.80B 2.21%
1976 $8.00B 2.13%
1975 $6.15B 1.94%
1974 $6.66B 1.93%
1973 $5.40B 2.07%
1972 $4.05B 2.14%
1971 $3.46B 2.21%
1970 $2.86B 2.09%
1969 $2.29B 1.87%
1968 $2.08B 1.85%
1967 $2.12B 2.06%
1966 $1.98B 1.91%
1965 $1.82B 1.95%
1964 $1.48B 1.70%
1963 $1.56B 1.99%
1962 $1.47B 2.21%
1961 $0.95B 1.83%
1960 $1.04B 2.15%