Expense in Latin America & Caribbean
Latin America & Caribbean: Expense was 27.6% in 2023. ▲ Rising
Expense in Latin America & Caribbean, 2010–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Latin America & Caribbean recorded 27.6% for expense in 2023.
The figure is up 1.2% on the previous year and up 9.4% over ten years.
Over the whole period, expense in Latin America & Caribbean peaked at 29.3% in 2020 and was at its lowest, 24.2%, in 2010.
That places Latin America & Caribbean 17th out of 26 groups with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
Expense in Latin America & Caribbean, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2010 | 24.2% | — |
| 2011 | 24.5% | +0.9% |
| 2012 | 24.4% | -0.1% |
| 2013 | 25.2% | +3.2% |
| 2014 | 25.4% | +0.9% |
| 2015 | 27.2% | +6.9% |
| 2016 | 27.2% | -0.1% |
| 2017 | 26.3% | -3.2% |
| 2018 | 26.3% | +0.1% |
| 2019 | 26.0% | -1.1% |
| 2020 | 29.3% | +12.7% |
| 2021 | 26.4% | -9.8% |
| 2022 | 27.2% | +3.0% |
| 2023 | 27.6% | +1.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 25.7% | 24.2% | 27.2% | 10 |
| 2020s | 27.6% | 26.4% | 29.3% | 4 |
Countries ranked near Latin America & Caribbean
- 14 Luxembourg 42.2% compare
- 15 United Kingdom of Great Britain and Northern Ireland 41.2% compare
- 16 San Marino 40.5% compare
- 17 Lesotho 40.2% compare
- 18 Netherlands 40.0% compare
- 19 Slovakia 39.8% compare
- 20 Belgium 39.7% compare
More economy & growth data for Latin America & Caribbean
- Final consumption expenditure (current US$), per unit of GDP 0.8191 current US$ per US$ of GDP (2025)
- Exports of goods and services (current US$), per unit of GDP 0.2615 current US$ per US$ of GDP (2025)
- Final consumption expenditure (constant 2015 US$), per unit of GDP 0.683 constant 2015 US$ per US$ of GDP (2025)
- Final consumption expenditure (constant 2015 US$), annual growth rate 2.44 % change on previous year (2025)
- Final consumption expenditure (current US$), per capita 9,089 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 6,410 constant 2015 US$ per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 2.5 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.5777 constant 2015 US$ per US$ of GDP (2025)
- Final consumption expenditure (constant 2015 US$), per capita 7,578 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate 4.18 % change on previous year (2025)
Frequently asked questions
- What is expense in Latin America & Caribbean?
- Expense in Latin America & Caribbean was 27.6% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest expense recorded in Latin America & Caribbean?
- The highest recorded value was 29.3% in 2020.
- What is the lowest expense recorded in Latin America & Caribbean?
- The lowest recorded value was 24.2% in 2010.
- How does Latin America & Caribbean rank for expense?
- Latin America & Caribbean ranks 17th out of 26 groups with data for 2023.
- Is expense rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 9.4%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Expense (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.