Taxes on goods and services in Panama
Panama: Taxes on goods and services was 3.04 billion current LCU in 2024. ▲ Rising
Taxes on goods and services in Panama, 2014–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, taxes on goods and services in Panama stood at 3.04 billion current LCU.
That represents a change of up 5.5% on the previous year and up 22.8% over ten years.
Over the whole period, taxes on goods and services in Panama peaked at 3.04 billion current LCU in 2019 and was at its lowest, 2.34 billion current LCU, in 2020.
That places Panama 134th out of 157 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 11 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 2.80 billion current LCU | 2.47 billion current LCU | 3.04 billion current LCU | 6 |
| 2020s | 2.79 billion current LCU | 2.34 billion current LCU | 3.04 billion current LCU | 5 |
Countries ranked near Panama
More public sector data for Panama
- Arms imports 2.00 million SIPRI trend indicator values (1989)
- Tax revenue 7.2% (2024)
- Taxes on income, profits and capital gains 29.1% (2024)
- Taxes on goods and services 32.6% (2024)
- Net investment in nonfinancial assets 2.1% (2024)
- Net lending (+) / net borrowing (-) -8.2% (2024)
- Interest payments 28.9% (2024)
- Grants and other revenue 33.3% (2024)
- Interest payments 13.4% (2021)
- Other taxes 1.6% (2024)
Frequently asked questions
- What is taxes on goods and services in Panama?
- Taxes on goods and services in Panama was 3.04 billion current LCU 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 Panama?
- The highest recorded value was 3.04 billion current LCU in 2019.
- What is the lowest taxes on goods and services recorded in Panama?
- The lowest recorded value was 2.34 billion current LCU in 2020.
- How does Panama rank for taxes on goods and services?
- Panama ranks 134th out of 157 countries with data for 2024.
- Is taxes on goods and services rising or falling in Panama?
- Over the last ten years it is up 22.8%. The long-run trend across the full record is rising.
- 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 goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 11 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 in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.