Tax revenue in Latin America & Caribbean
Latin America & Caribbean: Tax revenue was 14.7% in 2024. ▲ Rising
Tax revenue in Latin America & Caribbean, 2010–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for tax revenue in Latin America & Caribbean is 14.7%, measured in 2024. That is the highest value across all 15 years on record.
Compared with earlier readings it is up 4.7% on the previous year and up 12.0% over ten years.
Over the whole period, tax revenue in Latin America & Caribbean peaked at 14.7% in 2024 and was at its lowest, 13.1%, in 2010.
That places Latin America & Caribbean 14th out of 35 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 15 years of available data.
Tax revenue in Latin America & Caribbean, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2010 | 13.1% | — |
| 2011 | 13.5% | +3.8% |
| 2012 | 13.2% | -2.3% |
| 2013 | 13.2% | -0.1% |
| 2014 | 13.1% | -0.6% |
| 2015 | 13.7% | +4.0% |
| 2016 | 13.7% | +0.4% |
| 2017 | 13.4% | -2.4% |
| 2018 | 13.5% | +0.8% |
| 2019 | 13.5% | -0.3% |
| 2020 | 13.1% | -2.6% |
| 2021 | 14.0% | +6.4% |
| 2022 | 14.3% | +2.3% |
| 2023 | 14.1% | -1.5% |
| 2024 | 14.7% | +4.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 13.4% | 13.1% | 13.7% | 10 |
| 2020s | 14.0% | 13.1% | 14.7% | 5 |
Countries ranked near Latin America & Caribbean
More public sector data for Latin America & Caribbean
- Arms imports 644.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9725 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0001 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 67.27 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 644.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 110.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0104 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 10.62 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 73.38 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.2 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is tax revenue in Latin America & Caribbean?
- Tax revenue in Latin America & Caribbean was 14.7% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Latin America & Caribbean?
- The highest recorded value was 14.7% in 2024.
- What is the lowest tax revenue recorded in Latin America & Caribbean?
- The lowest recorded value was 13.1% in 2010.
- How does Latin America & Caribbean rank for tax revenue?
- Latin America & Caribbean ranks 14th out of 35 groups with data for 2024.
- Is tax revenue rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 12.0%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Tax revenue (% of GDP). 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.