Public contracting is the world’s largest marketplace. One in every three dollars spent by government is on a contract with a company. But how big is it really?

A 2020 report from the Open Contracting Partnership and Spend Network estimates that globally governments spend $13 trillion a year on public contracts for goods, services and works.

Less than 3% ($363 billion) is published openly. Opaque contracts that miss information shut out businesses, journalists and civil society from analyzing and interrogating the data.

The study remains a benchmark for understanding the scale of public procurement and the need for complete, accessible contracting data.

The lack of accessible public information on government contracts severely hinders efforts to increase competition, especially for smaller and minority-owned businesses.

Including basic details, such as the value, and start and end dates of agreements, would provide data users with a better understanding of when pertinent contracts are due to expire. It would also improve effective oversight to reduce fraud and corruption.

Taxpayers should be able to see whether public money is being spent fairly, efficiently and in the public interest.

Read the full report analyzing the global value of public procurement and check how much your country spends.