Military spending in Latin America increases 3.1% above the global average
Military spending in South America grew by 3.1% in 2018, the agency said in a statement following the complete annual update of its database on military spending. According to the SIPRI, this was mainly due to the increase in Brazilian spending (5.1%), the second increase in many years.
The countries of the Ibero-American region, as a whole, spent last year on defense matters 55,600 million dollars, according to the data of the institute. The SIPRI notes that globally, this figure increased 2.6% and reached 1,822 billion dollars, achieving "the highest level since 1988, the first year of which there is consistent global data."
"Now, world spending is 76% higher than the minimum achieved in the post-cold war in 1998," and represents "2.1% of GDP or $ 239 per person," the agency said.
The United States and China led in 2018 the growth of military world spending. Meanwhile, Russia fell to the sixth position by reducing its spending by 3.5% compared to 2017, according to SIPRI.