Between 2003 and 2013 - while the rest of the world experienced a wave of economic crises - Latin America showed good economic indicators. The continent benefited from the “boom of price in raw materials”; historically, the region's main export products are energy resources like oil, gas, coal and other minerals, and this continues today. In 2011, for example, 13 of the 20 biggest companies in Latin America belonged to the oil, gas, mining and iron and steel sectors. The money that entered the region managed to reduce poverty; in 2012, the Economic Commission for Latin America and the Caribbean (ECLAC) affirmed that the continent showed the lowest percentage of poverty (28.8% of total population) in the last 30 years.
However, the high economic incomes were not only destined to reduce levels of extreme poverty, they were also intended to modernise the armed forces of Latin American countries by a significant increase in arms purchases. In a study carried out by Peace Laboratory, based on figures from the Stockholm International Peace Research Institute (SIPRI) it was revealed that Latin America had increased it's weapons purchases by 150%, spending $13.624 million between 2000 to 2010. Military spending worldwide in 2012 reached $1.7 billion, or 2.5% of global Gross Domestic Product (GDP). In Latin America, defence spending was about 4% of its total GDP, above the world average.