Taxes on international trade in Panama
Panama: Taxes on international trade was 3.3% in 2024. ▼ Falling
Taxes on international trade in Panama, 2014–2024
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 Panama is 3.3%, measured in 2024.
Compared with earlier readings it is up 13.2% on the previous year and down 40.6% over ten years.
Over the whole period, taxes on international trade in Panama peaked at 5.6% in 2014 and was at its lowest, 2.9%, in 2023.
That places Panama 86th out of 154 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 11 years of available data.
Taxes on international trade in Panama, year by year
| Year | % of revenue | Change |
|---|---|---|
| 2014 | 5.6% | — |
| 2015 | 5.4% | -3.0% |
| 2016 | 4.6% | -14.2% |
| 2017 | 4.1% | -11.5% |
| 2018 | 3.8% | -8.4% |
| 2019 | 3.8% | +2.3% |
| 2020 | 3.3% | -14.5% |
| 2021 | 3.7% | +13.6% |
| 2022 | 3.5% | -5.9% |
| 2023 | 2.9% | -16.7% |
| 2024 | 3.3% | +13.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 4.5% | 3.8% | 5.6% | 6 |
| 2020s | 3.3% | 2.9% | 3.7% | 5 |
Countries ranked near Panama
- 83 South Africa 3.6% compare
- 84 Nicaragua 3.6% compare
- 85 Bolivia, Plurinational State of 3.3%
- 87 Armenia 3.1% compare
- 88 Uruguay 3.0% compare
- 89 Republic of Moldova 3.0% compare
More public sector data for Panama
- Arms imports 2.00 million SIPRI trend indicator values (1989)
- Arms imports (SIPRI trend indicator values), per capita 0.832 SIPRI trend indicator values per person (1989)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (1989)
- Arms imports (SIPRI trend indicator values), annual growth rate -91.3 % change on previous year (1989)
- Arms imports (SIPRI trend indicator values), gaps filled 2.00 million SIPRI trend indicator values (1989)
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -100 % change on previous year (2000)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 26.9 SIPRI trend indicator values per square kilometre (1989)
Frequently asked questions
- What is taxes on international trade in Panama?
- Taxes on international trade in Panama was 3.3% 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 Panama?
- The highest recorded value was 5.6% in 2014.
- What is the lowest taxes on international trade recorded in Panama?
- The lowest recorded value was 2.9% in 2023.
- How does Panama rank for taxes on international trade?
- Panama ranks 86th out of 154 countries with data for 2024.
- Is taxes on international trade rising or falling in Panama?
- Over the last ten years it is down 40.6%. The long-run trend across the full record is falling.
- Where does this Panama 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.
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CSV · JSON — 11 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.