Analysis 4 The Military Market for Latin America

摘要

From a global perspective, Latin America does not spend a lot of money on defense. North America, Europe, Eurasia, Asia, and the Middle East all outspend the region. Economic problems brought about by declining commodity prices caused defense budgets to slip even further between 2014 and 2016. Within Latin America, Brazil has the largest defense budget, typically accounting for about half of all defense spending in the region. Other major spenders include Colombia, Mexico, Argentina, Cuba, Chile, and Peru. The primary obstacle to defense spending in most Latin American countries continues to be a cycle of economic advances and declines, making it difficult for governments to provide a steady flow of funding for their militaries. In addition, Latin America does not face threats from terrorists or poor diplomatic relations, further reducing the need for large standing armies in the region.