Military Expenditure in Chile, 1960-2022

Chile's military expenditure exhibited notable fluctuations, reflecting key historical and political shifts. The 1970s saw a sharp increase, peaking at 7.1% of GDP in 1974, coinciding with the military coup in 1973 and the subsequent authoritarian regime under Augusto Pinochet. This period prioritized defense spending, driven by internal security concerns and geopolitical tensions, such as disputes with neighboring countries like Argentina. Spending remained above 6% throughout much of the 1980s, underscoring the military's dominant role in governance.

Following the return to democracy in 1990, Chile's military expenditure steadily declined. By the 2000s, defense spending had stabilized at around 2.5% of GDP, reflecting a focus on modernization and economic growth rather than military expansion. Recent years, particularly after 2015, saw further reductions, dropping to 1.8% in 2022, as Chile prioritized social and economic development over defense amid reduced regional tensions.