Military expenditure in local currency rose 110% to COP 46,630,500,000,000 bil in Colombia in 2023, according to the SIPRI Military Expenditure Database.
Historically, military expenditure in local currency in Colombia reached an all time high of COP 46,630,500,000,000 bil in 2023 and an all time low of COP 0.433 bil in 1959. When compared to Colombia's main peers, military expenditure in local currency in Brazil amounted to BRL 114,523,700,000 bil, PEN 11,229,568,446 bil in Peru and VEF 10,941,523,999,999,999,868,928.00 bil in Venezuela in 2023.
Colombia has been ranked 5th within the group of 148 countries we follow in terms of military expenditure in local currency.
| Military Expenditure (Local Currency) | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| Bolivia | BOB bil | 3.98 | 4.17 | 4.10 | 3.52 | 3.93 | ||||||||||||||||
| Brazil | BRL bil | 93.1 | 103 | 102 | 101 | 104 | ||||||||||||||||
| Chile | CLP bil | 3,480 | 3,557 | 3,646 | 4,189 | 4,650 | ||||||||||||||||
| Colombia | COP bil | 29,530 | 29,962 | 33,346 | 35,290 | 38,114 | ||||||||||||||||
| Guyana | GYD bil | 12.3 | 12.8 | 14.0 | 16.0 | 16.0 | ||||||||||||||||
| Peru | PEN bil | 8.70 | 8.70 | 9.19 | 9.27 | 10.2 | ||||||||||||||||
| Trinidad and Tobago | TTD bil | 1.37 | 1.12 | 1.17 | 1.15 | 1.39 | ||||||||||||||||
| Venezuela | VEF bil | 4,440 | 3,489,538 | 5,391,344,960 | 81,449,000,000 | 431,282,000,000 |
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