Global Revenue Statistics - Comparative tax revenues in Panama
Panama: Global Revenue Statistics - Comparative tax revenues was 11.31 Percentage of GDP in 2024. ▼ Falling
Global Revenue Statistics - Comparative tax revenues in Panama, 1990–2024
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
Panama recorded 11.31 Percentage of GDP for global revenue statistics - comparative tax revenues in 2024. That is the lowest value across all 35 years on record.
Compared with earlier readings it is down 4.8% on the previous year and down 24.7% over ten years.
Over the whole period, global revenue statistics - comparative tax revenues in Panama peaked at 16.68 Percentage of GDP in 1991 and was at its lowest, 11.31 Percentage of GDP, in 2024.
Panama ranks 127th of 135 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 35 years of available data.
Global Revenue Statistics - Comparative tax revenues in Panama, year by year
| Year | Percentage of GDP | Change |
|---|---|---|
| 1990 | 15.98 Percentage of GDP | — |
| 1991 | 16.68 Percentage of GDP | +4.4% |
| 1992 | 16.63 Percentage of GDP | -0.3% |
| 1993 | 16.1 Percentage of GDP | -3.2% |
| 1994 | 16.05 Percentage of GDP | -0.3% |
| 1995 | 16.67 Percentage of GDP | +3.9% |
| 1996 | 15.16 Percentage of GDP | -9.1% |
| 1997 | 15.33 Percentage of GDP | +1.1% |
| 1998 | 14.76 Percentage of GDP | -3.7% |
| 1999 | 15.46 Percentage of GDP | +4.7% |
| 2000 | 14.98 Percentage of GDP | -3.1% |
| 2001 | 14 Percentage of GDP | -6.5% |
| 2002 | 13.57 Percentage of GDP | -3.1% |
| 2003 | 13.4 Percentage of GDP | -1.2% |
| 2004 | 13.2 Percentage of GDP | -1.5% |
| 2005 | 13.08 Percentage of GDP | -0.9% |
| 2006 | 13.94 Percentage of GDP | +6.6% |
| 2007 | 15.4 Percentage of GDP | +10.4% |
| 2008 | 15.47 Percentage of GDP | +0.4% |
| 2009 | 15.84 Percentage of GDP | +2.4% |
| 2010 | 16.28 Percentage of GDP | +2.8% |
| 2011 | 15.99 Percentage of GDP | -1.8% |
| 2012 | 16.32 Percentage of GDP | +2.1% |
| 2013 | 16.34 Percentage of GDP | +0.1% |
| 2014 | 15.03 Percentage of GDP | -8.0% |
| 2015 | 14.44 Percentage of GDP | -3.9% |
| 2016 | 14.77 Percentage of GDP | +2.3% |
| 2017 | 14.23 Percentage of GDP | -3.6% |
| 2018 | 13.53 Percentage of GDP | -4.9% |
| 2019 | 12.6 Percentage of GDP | -6.9% |
| 2020 | 12.03 Percentage of GDP | -4.5% |
| 2021 | 11.66 Percentage of GDP | -3.0% |
| 2022 | 11.95 Percentage of GDP | +2.4% |
| 2023 | 11.88 Percentage of GDP | -0.5% |
| 2024 | 11.31 Percentage of GDP | -4.8% |
Panama compared with similar countries
- Panama's 11.31 Percentage of GDP is below the median for high income countries, which is 33.73 Percentage of GDP, 34% of the median. (49 countries reporting)
- Panama's 11.31 Percentage of GDP is below the median for Latin America & Caribbean, which is 21.28 Percentage of GDP, 53% of the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 15.88 Percentage of GDP | 14.76 Percentage of GDP | 16.68 Percentage of GDP | 10 |
| 2000s | 14.29 Percentage of GDP | 13.08 Percentage of GDP | 15.84 Percentage of GDP | 10 |
| 2010s | 14.95 Percentage of GDP | 12.6 Percentage of GDP | 16.34 Percentage of GDP | 10 |
| 2020s | 11.77 Percentage of GDP | 11.31 Percentage of GDP | 12.03 Percentage of GDP | 5 |
Countries ranked near Panama
More economy & growth data for Panama
- Real gdp growth, annual growth rate 58.3 % change on previous year (2025)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.82 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 3.53 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0058 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 114.24 units per person (2025)
- SDRs holdings, SDR, annual growth rate -1.41 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0042 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 83.42 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -18.73 % change on previous year (2025)
Frequently asked questions
- What is global revenue statistics - comparative tax revenues in Panama?
- Global revenue statistics - comparative tax revenues in Panama was 11.31 Percentage of GDP in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest global revenue statistics - comparative tax revenues recorded in Panama?
- The highest recorded value was 16.68 Percentage of GDP in 1991.
- What is the lowest global revenue statistics - comparative tax revenues recorded in Panama?
- The lowest recorded value was 11.31 Percentage of GDP in 2024.
- How does Panama rank for global revenue statistics - comparative tax revenues?
- Panama ranks 127th out of 135 countries with data for 2024.
- Is global revenue statistics - comparative tax revenues rising or falling in Panama?
- Over the last ten years it is down 24.7%. The long-run trend across the full record is falling.
- Where does this Panama data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Global Revenue Statistics - Comparative tax revenues. Statizoid updates them automatically from the source API.
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About this data
Internationally comparable tax revenue data from countries included in Global Revenue Statistics, presented as a percentage of GDP and as a share of total tax revenue, as well as in national currency and US dollars. Tax revenues are harmonised according to the OECD classification of taxes. Related topics: Tax-to-GDP, Taxation, Tax structure, Tax mix, Regional average – change for each region, Domestic resource mobilisation, Public finance, Income tax, Social security contributions, Goods and services, Value added tax, VAT, Excise, Customs, Property tax.