Customs and other import duties in Panama
Panama: Customs and other import duties was 5.0% in 2024. ▼ Falling
Customs and other import duties in Panama, 2014–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of tax revenue.
Analysis
The most recent figure for customs and other import duties in Panama is 5.0%, measured in 2024.
The figure is up 18.2% on the previous year and down 33.4% over ten years.
Over the whole period, customs and other import duties in Panama peaked at 7.4% in 2014 and was at its lowest, 4.2%, in 2023.
That places Panama 83rd out of 151 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 11 years of available data.
Customs and other import duties in Panama, year by year
| Year | % of tax revenue | Change |
|---|---|---|
| 2014 | 7.4% | — |
| 2015 | 7.1% | -4.0% |
| 2016 | 5.9% | -17.4% |
| 2017 | 5.8% | -2.5% |
| 2018 | 5.2% | -9.2% |
| 2019 | 5.2% | -1.0% |
| 2020 | 4.6% | -11.3% |
| 2021 | 5.4% | +17.6% |
| 2022 | 4.9% | -9.3% |
| 2023 | 4.2% | -14.4% |
| 2024 | 5.0% | +18.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.1% | 5.2% | 7.4% | 6 |
| 2020s | 4.8% | 4.2% | 5.4% | 5 |
Countries ranked near Panama
More public sector data for Panama
- Arms imports 2.00 million SIPRI trend indicator values (1989)
- Arms imports (SIPRI trend indicator values), per capita 0.832 SIPRI trend indicator values per person (1989)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (1989)
- Arms imports (SIPRI trend indicator values), annual growth rate -91.3 % change on previous year (1989)
- Arms imports (SIPRI trend indicator values), gaps filled 2.00 million SIPRI trend indicator values (1989)
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -100 % change on previous year (2000)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 26.9 SIPRI trend indicator values per square kilometre (1989)
Frequently asked questions
- What is customs and other import duties in Panama?
- Customs and other import duties in Panama was 5.0% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest customs and other import duties recorded in Panama?
- The highest recorded value was 7.4% in 2014.
- What is the lowest customs and other import duties recorded in Panama?
- The lowest recorded value was 4.2% in 2023.
- How does Panama rank for customs and other import duties?
- Panama ranks 83rd out of 151 countries with data for 2024.
- Is customs and other import duties rising or falling in Panama?
- Over the last ten years it is down 33.4%. The long-run trend across the full record is falling.
- Where does this Panama data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Customs and other import duties (% of tax revenue). Statizoid updates them automatically from the source API.
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CSV · JSON — 11 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes and duties on imports are taxes on goods and services that become payable at the moment when goods enter the economic territory or when services are delivered by non-resident producers to residents. This indicator is expressed as a percentage of tax revenue which includes compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.