Tax revenue (current LCU) in Panama
Panama: Tax revenue (current LCU) was 6.21 billion current LCU in 2024. ▲ Rising
Tax revenue in Panama, 2014–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Panama recorded 6.21 billion current LCU for tax revenue in 2024.
The figure is down 11.9% on the previous year and up 21.2% over ten years.
Over the whole period, tax revenue in Panama peaked at 7.05 billion current LCU in 2023 and was at its lowest, 4.72 billion current LCU, in 2020.
That places Panama 133rd out of 157 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 11 years of available data.
Tax revenue (current LCU) in Panama, year by year
| Year | current LCU | Change |
|---|---|---|
| 2014 | 5.12 billion current LCU | — |
| 2015 | 5.46 billion current LCU | +6.7% |
| 2016 | 6.01 billion current LCU | +10.0% |
| 2017 | 6.22 billion current LCU | +3.5% |
| 2018 | 6.46 billion current LCU | +3.8% |
| 2019 | 6.18 billion current LCU | -4.4% |
| 2020 | 4.72 billion current LCU | -23.6% |
| 2021 | 5.31 billion current LCU | +12.4% |
| 2022 | 6.58 billion current LCU | +23.9% |
| 2023 | 7.05 billion current LCU | +7.2% |
| 2024 | 6.21 billion current LCU | -11.9% |
Panama compared with similar countries
- Panama's 6.21 billion current LCU is below the median for high income countries, which is 103.80 billion current LCU, 6% of the median. (57 countries reporting)
- Panama's 6.21 billion current LCU is below the median for Latin America & Caribbean, which is 102.16 billion current LCU, 6% of the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.91 billion current LCU | 5.12 billion current LCU | 6.46 billion current LCU | 6 |
| 2020s | 5.97 billion current LCU | 4.72 billion current LCU | 7.05 billion current LCU | 5 |
Countries ranked near Panama
More public sector data for Panama
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is tax revenue in Panama?
- Tax revenue in Panama was 6.21 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Panama?
- The highest recorded value was 7.05 billion current LCU in 2023.
- What is the lowest tax revenue recorded in Panama?
- The lowest recorded value was 4.72 billion current LCU in 2020.
- How does Panama rank for tax revenue?
- Panama ranks 133rd out of 157 countries with data for 2024.
- Is tax revenue rising or falling in Panama?
- Over the last ten years it is up 21.2%. The long-run trend across the full record is rising.
- 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 Tax revenue (current LCU). Statizoid updates them automatically from the source API.
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About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.