Taxes on international trade in Latin America & Caribbean
Latin America & Caribbean: Taxes on international trade was 3.6% in 2024. ▼ Falling
Taxes on international trade in Latin America & Caribbean, 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on international trade in Latin America & Caribbean is 3.6%, measured in 2024.
Compared with earlier readings it is up 6.0% on the previous year and down 10.8% over ten years.
Over the whole period, taxes on international trade in Latin America & Caribbean peaked at 8.0% in 1998 and was at its lowest, 3.3%, in 2020.
That places Latin America & Caribbean 22nd out of 41 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 27 years of available data.
Taxes on international trade in Latin America & Caribbean, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1998 | 8.0% | — |
| 1999 | 6.8% | -15.5% |
| 2000 | 5.6% | -17.6% |
| 2001 | 5.6% | +0.3% |
| 2002 | 6.5% | +17.0% |
| 2003 | 5.9% | -10.1% |
| 2004 | 5.7% | -3.5% |
| 2005 | 5.6% | -2.1% |
| 2006 | 5.1% | -8.4% |
| 2007 | 5.2% | +2.0% |
| 2008 | 4.6% | -12.0% |
| 2009 | 4.3% | -6.5% |
| 2010 | 4.1% | -3.7% |
| 2011 | 4.2% | +2.6% |
| 2012 | 4.3% | +1.0% |
| 2013 | 4.5% | +5.6% |
| 2014 | 4.0% | -10.5% |
| 2015 | 4.0% | +0.3% |
| 2016 | 4.3% | +6.3% |
| 2017 | 4.1% | -4.6% |
| 2018 | 3.8% | -8.4% |
| 2019 | 3.8% | +2.3% |
| 2020 | 3.3% | -14.5% |
| 2021 | 3.7% | +13.6% |
| 2022 | 3.8% | +1.8% |
| 2023 | 3.4% | -10.5% |
| 2024 | 3.6% | +6.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.4% | 6.8% | 8.0% | 2 |
| 2000s | 5.4% | 4.3% | 6.5% | 10 |
| 2010s | 4.1% | 3.8% | 4.5% | 10 |
| 2020s | 3.6% | 3.3% | 3.8% | 5 |
Countries ranked near Latin America & Caribbean
- 19 Togo 15.3% compare
- 20 Cape Verde 15.0% compare
- 21 Argentina 15.0% compare
- 22 Madagascar 14.6% compare
- 23 Belize 14.2% compare
- 24 Solomon Islands 13.5% compare
- 25 Kazakhstan 13.2% compare
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 taxes on international trade in Latin America & Caribbean?
- Taxes on international trade in Latin America & Caribbean was 3.6% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on international trade recorded in Latin America & Caribbean?
- The highest recorded value was 8.0% in 1998.
- What is the lowest taxes on international trade recorded in Latin America & Caribbean?
- The lowest recorded value was 3.3% in 2020.
- How does Latin America & Caribbean rank for taxes on international trade?
- Latin America & Caribbean ranks 22nd out of 41 groups with data for 2024.
- Is taxes on international trade rising or falling in Latin America & Caribbean?
- Over the last ten years it is down 10.8%. The long-run trend across the full record is falling.
- 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 Taxes on international trade (% of revenue). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 27 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes on international trade are taxes that become payable when goods cross the national or customs frontiers of the economic territory or when transactions in services exchange between residents and non-residents. 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.