Tax revenue in Micronesia, Federated States of
Micronesia, Federated States of: Tax revenue was 7.0% in 2020. ◆ Volatile
Tax revenue in Micronesia, Federated States of, 2008–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2020, tax revenue in Micronesia, Federated States of stood at 7.0%.
That represents a change of down 64.6% on the previous year and up 48.3% over ten years.
Over the whole period, tax revenue in Micronesia, Federated States of peaked at 25.7% in 2018 and was at its lowest, 4.3%, in 2008.
Micronesia, Federated States of ranks 146th of 157 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Tax revenue in Micronesia, Federated States of, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2008 | 4.3% | — |
| 2009 | 4.4% | +2.9% |
| 2010 | 4.7% | +6.6% |
| 2011 | 5.0% | +5.8% |
| 2012 | 4.9% | -1.5% |
| 2013 | 5.5% | +11.8% |
| 2014 | 12.7% | +129.5% |
| 2015 | 5.5% | -56.6% |
| 2016 | 6.1% | +11.0% |
| 2017 | 10.6% | +73.3% |
| 2018 | 25.7% | +143.1% |
| 2019 | 19.9% | -22.7% |
| 2020 | 7.0% | -64.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.4% | 4.3% | 4.4% | 2 |
| 2010s | 10.1% | 4.7% | 25.7% | 10 |
| 2020s | 7.0% | 7.0% | 7.0% | 1 |
Countries ranked near Micronesia, Federated States of
More public sector data for Micronesia, Federated States of
- Arms imports 7.00 million SIPRI trend indicator values (2023)
- Arms imports (SIPRI trend indicator values), per capita 62.15 SIPRI trend indicator values per person (2023)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0158 SIPRI trend indicator values per US$ of GDP (2023)
- Arms imports (SIPRI trend indicator values), gaps filled 7.00 million SIPRI trend indicator values (2023)
- Taxes on income, profits and capital gains 10.9% (2020)
- Taxes on goods and services 3.4% (2020)
- Net investment in nonfinancial assets 10.5% (2020)
- Net lending (+) / net borrowing (-) 6.9% (2020)
- Interest payments 0.4% (2020)
- Grants and other revenue 81.0% (2020)
Frequently asked questions
- What is tax revenue in Micronesia, Federated States of?
- Tax revenue in Micronesia, Federated States of was 7.0% in 2020, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Micronesia, Federated States of?
- The highest recorded value was 25.7% in 2018.
- What is the lowest tax revenue recorded in Micronesia, Federated States of?
- The lowest recorded value was 4.3% in 2008.
- How does Micronesia, Federated States of rank for tax revenue?
- Micronesia, Federated States of ranks 146th out of 157 countries with data for 2020.
- Is tax revenue rising or falling in Micronesia, Federated States of?
- Over the last ten years it is up 48.3%. The long-run trend across the full record is volatile.
- Where does this Micronesia, Federated States of 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.