Chapter Eight: Latin America and the Caribbean

Lacklustre economic performance and the absence of major external security threats still continue to constrain regional defence budgets, while social challenges and internal security concerns have increased demands for government spending in other areas. Total defence funding in the region is in real terms at the same level as in 2009. The region’s defence budgets in 2021 remained stable at about 1% of GDP – a proportion smaller than in any other region.