Taxes on goods and services in Caribbean Small States
Caribbean Small States: Taxes on goods and services was 20.8% in 2019. ▼ Falling
Taxes on goods and services in Caribbean Small States, 2001–2019
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
Caribbean Small States recorded 20.8% for taxes on goods and services in 2019.
The figure is up 12.9% on the previous year and up 34.9% over ten years.
Over the whole period, taxes on goods and services in Caribbean Small States peaked at 26.2% in 2002 and was at its lowest, 11.9%, in 2014.
Caribbean Small States ranks 40th of 41 groups on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 19 years of available data.
Taxes on goods and services in Caribbean Small States, year by year
| Year | % of revenue | Change |
|---|---|---|
| 2001 | 23.2% | — |
| 2002 | 26.2% | +12.8% |
| 2003 | 19.7% | -24.9% |
| 2004 | 21.0% | +6.5% |
| 2005 | 14.9% | -29.0% |
| 2006 | 13.2% | -11.2% |
| 2007 | 14.6% | +10.4% |
| 2008 | 13.1% | -10.3% |
| 2009 | 15.5% | +18.2% |
| 2010 | 16.0% | +3.4% |
| 2011 | 14.4% | -10.2% |
| 2012 | 15.2% | +5.7% |
| 2013 | 14.8% | -2.6% |
| 2014 | 11.9% | -19.6% |
| 2015 | 14.5% | +21.9% |
| 2016 | 14.9% | +2.8% |
| 2017 | 18.7% | +25.5% |
| 2018 | 18.5% | -1.3% |
| 2019 | 20.8% | +12.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 17.9% | 13.1% | 26.2% | 9 |
| 2010s | 16.0% | 11.9% | 20.8% | 10 |
Countries ranked near Caribbean Small States
More public sector data for Caribbean Small States
- Tax revenue 17.7% (2017)
- Taxes on income, profits and capital gains 26.1% (2019)
- Net investment in nonfinancial assets 2.4% (2017)
- Net lending (+) / net borrowing (-) -5.5% (2017)
- Interest payments 13.2% (2019)
- Grants and other revenue 18.7% (2019)
- Interest payments 9.6% (2019)
- Other taxes 16.1% (2019)
- Compensation of employees 32.1% (2019)
- Goods and services expense 22.1% (2019)
Frequently asked questions
- What is taxes on goods and services in Caribbean Small States?
- Taxes on goods and services in Caribbean Small States was 20.8% in 2019, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Caribbean Small States?
- The highest recorded value was 26.2% in 2002.
- What is the lowest taxes on goods and services recorded in Caribbean Small States?
- The lowest recorded value was 11.9% in 2014.
- How does Caribbean Small States rank for taxes on goods and services?
- Caribbean Small States ranks 40th out of 41 groups with data for 2019.
- Is taxes on goods and services rising or falling in Caribbean Small States?
- Over the last ten years it is up 34.9%. The long-run trend across the full record is falling.
- Where does this Caribbean Small States data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 19 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.