In 2024, Brazil ranked first in the annual value of military spending in Latin America, with an expenditure of over 20.9 billion U.S. dollars. Mexico came in second with almost 16.7 billion U.S. dollars in military expenditure. Brazil is also the second Latin American country with the largest military personnel.
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SIPRI. (August 20, 2025). Military expenditure in Latin America in 2024, by country (in million U.S. dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 27, 2026, from /statistics/794434/military-spending-latin-america-country/
SIPRI. "Military expenditure in Latin America in 2024, by country (in million U.S. dollars)." Chart. August 20, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 27, 2026. /statistics/794434/military-spending-latin-america-country/
SIPRI. (2025). Military expenditure in Latin America in 2024, by country (in million U.S. dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 27, 2026. /statistics/794434/military-spending-latin-america-country/
SIPRI. "Military Expenditure in Latin America in 2024, by Country (in Million U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 20 Aug 2025, /statistics/794434/military-spending-latin-america-country/
SIPRI, Military expenditure in Latin America in 2024, by country (in million U.S. dollars) ÌÇÐÄÆƽâ°æ, /statistics/794434/military-spending-latin-america-country/ (last visited July 27, 2026)
Military expenditure in Latin America in 2024, by country (in million U.S. dollars) [Graph], SIPRI, August 20, 2025. [Online]. Available: /statistics/794434/military-spending-latin-america-country/
