Taxes on goods and services in Latin America & Caribbean (excluding high income)
Latin America & Caribbean (excluding high income): Taxes on goods and services was 36.1% in 2024. ▼ Falling
Taxes on goods and services in Latin America & Caribbean (excluding high income), 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on goods and services in Latin America & Caribbean (excluding high income) stood at 36.1%.
Compared with earlier readings it is up 0.7% on the previous year and down 13.1% over ten years.
Over the whole period, taxes on goods and services in Latin America & Caribbean (excluding high income) peaked at 43.9% in 2003 and was at its lowest, 32.7%, in 2022.
That places Latin America & Caribbean (excluding high income) 9th out of 41 groups with data for 2024, putting it in the top quarter.
The long-run direction has been consistently falling across the 25 years of available data.
Taxes on goods and services in Latin America & Caribbean (excluding high income), year by year
| Year | % of revenue | Change |
|---|---|---|
| 1998 | 41.8% | — |
| 1999 | 42.1% | +0.7% |
| 2000 | 43.9% | +4.2% |
| 2003 | 43.9% | +0.1% |
| 2004 | 43.8% | -0.2% |
| 2005 | 43.3% | -1.1% |
| 2006 | 40.7% | -6.0% |
| 2007 | 42.4% | +4.3% |
| 2008 | 39.3% | -7.5% |
| 2009 | 38.6% | -1.8% |
| 2010 | 40.3% | +4.6% |
| 2011 | 37.6% | -6.7% |
| 2012 | 39.1% | +3.9% |
| 2013 | 37.8% | -3.2% |
| 2014 | 41.6% | +9.9% |
| 2015 | 39.1% | -5.9% |
| 2016 | 35.5% | -9.3% |
| 2017 | 36.8% | +3.8% |
| 2018 | 36.9% | +0.1% |
| 2019 | 32.8% | -11.0% |
| 2020 | 36.7% | +11.7% |
| 2021 | 36.3% | -0.9% |
| 2022 | 32.7% | -10.1% |
| 2023 | 35.8% | +9.7% |
| 2024 | 36.1% | +0.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 42.0% | 41.8% | 42.1% | 2 |
| 2000s | 42.0% | 38.6% | 43.9% | 8 |
| 2010s | 37.8% | 32.8% | 41.6% | 10 |
| 2020s | 35.5% | 32.7% | 36.7% | 5 |
Countries ranked near Latin America & Caribbean (excluding high income)
More public sector data for Latin America & Caribbean (excluding high income)
- Arms imports 611.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9814 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 64.69 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 611.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 106.17 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0105 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 12.04 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 66.10 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.76 SIPRI trend indicator values per square kilometre (2023)
All data for Latin America & Caribbean (excluding high income) →
Frequently asked questions
- What is taxes on goods and services in Latin America & Caribbean (excluding high income)?
- Taxes on goods and services in Latin America & Caribbean (excluding high income) was 36.1% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Latin America & Caribbean (excluding high income)?
- The highest recorded value was 43.9% in 2003.
- What is the lowest taxes on goods and services recorded in Latin America & Caribbean (excluding high income)?
- The lowest recorded value was 32.7% in 2022.
- How does Latin America & Caribbean (excluding high income) rank for taxes on goods and services?
- Latin America & Caribbean (excluding high income) ranks 9th out of 41 groups with data for 2024.
- Is taxes on goods and services rising or falling in Latin America & Caribbean (excluding high income)?
- Over the last ten years it is down 13.1%. The long-run trend across the full record is falling.
- Where does this Latin America & Caribbean (excluding high income) 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
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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.