Panama Tax Revenue to GDP
Central government tax revenue as a percentage of GDP.
Tax Revenue to GDP in Panama decreased to 7.18 percent of GDP in 2024 from 8.41 percent of GDP in 2023.
Panama Tax Revenue to GDP — History
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Panama Tax Revenue to GDP — analysis in simple words
Latest reading
Tax Revenue to GDP in Panama decreased to 7.18 percent of GDP in 2024 from 8.41 percent of GDP in 2023.
Over the last three years it rose once and fell twice.
Recent trend
A year earlier (2023) it was 8.4%, so the latest figure is 1.2 percentage points lower.
Over the past five years the average was 8.1%, with a range from 7.2% to 8.6%. The latest value is below that five-year average.
Historical context
This data series starts in 2014 and has 11 annual observations. The latest reading is higher than 0% of all of them.
The highest value on record is 10.1% (2016) and the lowest is 7.2% (2024). The long-run average is 8.9%.
Compared with other countries
Among 142 economies with recent data, Panama ranks 131st from the top. The median across all these economies is 17.0%, so Panama is below the typical country.
Within Latin America & Caribbean (20 economies with data) it ranks 20th; the regional median is 15.1%.
Statistics
- Latest
- 7.2%2024
- Previous
- 8.4%
- 5-year average
- 8.1%
- Long-run average
- 8.9%since 2014
- All-time high
- 10.1%2016
- All-time low
- 7.2%2024
- Observations
- 11Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | 7.2% | ▼ −1.2 pp |
| 2023 | 8.4% | ▼ −0.2 pp |
| 2022 | 8.6% | ▲ +0.7 pp |
| 2021 | 7.9% | ▼ −0.4 pp |
| 2020 | 8.3% | ▼ −0.6 pp |
| 2019 | 8.8% | ▼ −0.7 pp |
| 2018 | 9.6% | ▼ −0.1 pp |
| 2017 | 9.7% | ▼ −0.4 pp |
| 2016 | 10.1% | ▲ +0.3 pp |
| 2015 | 9.8% | ▼ −0.2 pp |
| 2014 | 10.0% |
Tax Revenue to GDP — Panama vs Peers
Latest available reading for each economy (periods may differ). Panama highlighted.
More Panama indicators
Understanding Tax Revenue to GDP — a simple guide
What it measures
Central government tax revenue as a percentage of GDP.
How it is calculated
Central government tax collections ÷ GDP × 100.
12% means central taxes equal 12% of GDP.
Strong tax collection capacity.
Weaker collection or a large informal economy.
Why it matters for the economy and markets
The tax-to-GDP ratio indicates fiscal capacity and the efficiency of tax collection.
How to read it
It excludes state/local taxes in federal countries, so it can understate total taxation.
Data source
World Bank — World Development Indicators (series GC.TAX.TOTL.GD.ZS), annual data from 2014 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current tax revenue to gdp of Panama?
What is the highest and lowest tax revenue to gdp of Panama?
What does tax revenue to gdp measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.