Latin America & Caribbean Military Spending/Defense Budget 1960-2021

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 2019 was $61.51B, a 2.72% decline from 2018.
  • Latin America & Caribbean military spending/defense budget for 2018 was $63.23B, a 2.69% decline from 2017.
  • Latin America & Caribbean military spending/defense budget for 2017 was $64.98B, a 14.58% increase from 2016.
  • Latin America & Caribbean military spending/defense budget for 2016 was $56.71B, a 4.55% decline from 2015.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Billions of US $
World $1,868.08B
OECD members $1,208.89B
North America $753.95B
East Asia & Pacific $426.59B
European Union $219.62B
Euro Area $184.34B
South Asia $88.06B
Latin America & Caribbean $61.51B
Sub-Saharan Africa $17.63B
Latin America & Caribbean Military Spending/Defense Budget - Historical Data
Year Billions of US $ % of GDP
2019 $61.51B 1.22%
2018 $63.23B 1.27%
2017 $64.98B 1.25%
2016 $56.71B 1.22%
2015 $59.41B 1.23%
2014 $72.77B 1.26%
2013 $78.49B 1.31%
2012 $75.36B 1.30%
2011 $73.82B 1.28%
2010 $68.47B 1.35%
2009 $56.28B 1.40%
2008 $56.40B 1.28%
2007 $46.61B 1.24%
2006 $37.96B 1.19%
2005 $32.71B 1.21%
2004 $25.17B 1.13%
2003 $22.19B 1.14%
2002 $22.86B 1.22%
2001 $27.33B 1.30%
2000 $27.24B 1.27%
1999 $25.43B 1.31%
1998 $30.19B 1.40%
1997 $29.32B 1.36%
1996 $29.58B 1.51%
1995 $28.63B 1.59%
1994 $24.11B 1.46%
1993 $19.23B 1.39%
1992 $15.67B 1.31%
1991 $16.00B 1.54%
1990 $18.39B 1.73%
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 1.68%
1983 $12.37B 1.90%
1982 $13.49B 1.91%
1981 $16.54B 1.90%
1980 $15.26B 1.84%
1979 $12.83B 2.23%
1978 $10.05B 2.42%
1977 $8.80B 2.55%
1976 $8.00B 2.20%
1975 $6.15B 1.92%
1974 $6.66B 1.94%
1973 $5.40B 2.04%
1972 $4.05B 2.03%
1971 $3.46B 2.09%
1970 $2.86B 1.76%
1969 $2.29B 1.47%
1968 $2.08B 1.53%
1967 $2.12B 1.92%
1966 $1.98B 1.75%
1965 $1.82B 1.84%
1964 $1.48B 1.85%
1963 $1.56B 1.98%
1962 $1.47B 1.87%
1961 $0.95B 1.89%
1960 $1.04B 2.52%