Palau: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Palau |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -6.01 |
| Year | 2022 |
| Measure | percent |
| Data availability | 2013 - 2022 |
| Average | -1.16 |
| Min - Max | -16.52 - 6.33 |
| Source | Ministry of Finance of Palau |
The latest value from 2022 is -6.01 percent, an increase from -16.52 percent in 2021. In comparison, the world average is -2.51 percent, based on data from 164 countries. Historically, the average for Palau from 2013 to 2022 is -1.16 percent. The minimum value, -16.52 percent, was reached in 2021 while the maximum of 6.33 percent was recorded in 2018.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 38.33 | 2022 | percent |
| Government spending, in dollars | 0.09 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -6.01 | 2022 | percent |
| Tax revenue | 17.93 | 2020 | percent |
| Commercial tax rate | 76.60 | 2019 | percent |
| Tax preparation time | 52 | 2019 | hours |
| Number of taxes | 11 | 2019 | taxes |
| Taxes on goods and services | 14.15 | 2020 | percent |
| Taxes on international trade | 12.34 | 2020 | percent |
| Income and profits taxes | 8.80 | 2020 | percent |
| Foreign aid | 55.67 | 2022 | million U.S. dollars |