Revenue Statistics: Comparative tax revenues … Latin in Panama
Panama: Revenue Statistics: Comparative tax revenues … Latin was 11.31 Percentage of GDP in 2024. ▼ Falling
Revenue Statistics in Latin America and the Caribbean - Comparative 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 revenue statistics in latin america and the caribbean - comparative in 2024. That is the lowest value across all 35 years on record.
The figure is down 4.8% on the previous year and down 24.7% over ten years.
Over the whole period, revenue statistics in latin america and the caribbean - comparative in Panama peaked at 16.68 Percentage of GDP in 1991 and was at its lowest, 11.31 Percentage of GDP, in 2024.
That places Panama 28th out of 29 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 35 years of available data.
Revenue Statistics: Comparative tax revenues … Latin 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 Latin America & Caribbean, which is 21.28 Percentage of GDP, 53% of the median. (29 countries reporting)
- Panama's 11.31 Percentage of GDP is below the median for high income countries, which is 20.48 Percentage of GDP, 55% of the median. (9 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 revenue statistics in latin america and the caribbean - comparative in Panama?
- Revenue statistics in latin america and the caribbean - comparative in Panama was 11.31 Percentage of GDP in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest revenue statistics in latin america and the caribbean - comparative recorded in Panama?
- The highest recorded value was 16.68 Percentage of GDP in 1991.
- What is the lowest revenue statistics in latin america and the caribbean - comparative recorded in Panama?
- The lowest recorded value was 11.31 Percentage of GDP in 2024.
- How does Panama rank for revenue statistics in latin america and the caribbean - comparative?
- Panama ranks 28th out of 29 countries with data for 2024.
- Is revenue statistics in latin america and the caribbean - comparative 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 Revenue Statistics in Latin America and the Caribbean - Comparative tax revenues. Statizoid updates them automatically from the source API.
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About this data
Internationally comparable tax revenue data from Revenue Statistics in Latin America and the Caribbean countries presented as a percentage of GDP and as a share of total tax revenues 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.