Panama: Taxes on international trade
* indicates monthly or quarterly data series
| Panama |
Taxes on international trade, percent of total revenue |
|---|---|
| Latest value | 3.79 |
| Year | 2021 |
| Measure | percent |
| Data availability | 2014 - 2021 |
| Average | 4.29 |
| Min - Max | 3.27 - 5.57 |
| Source | The World Bank |
The latest value from 2021 is 3.79 percent, an increase from 3.27 percent in 2020. In comparison, the world average is 7.43 percent, based on data from 99 countries. Historically, the average for Panama from 2014 to 2021 is 4.29 percent. The minimum value, 3.27 percent, was reached in 2020 while the maximum of 5.57 percent was recorded in 2014.
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* indicates monthly or quarterly data series
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Definition: Taxes on international trade include import duties, export duties, profits of export or import monopolies, exchange profits, and exchange taxes.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 12.76 | 2022 | percent |
| Government spending, in dollars | 9.76 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -2.95 | 2023 | percent |
| Government debt | 56.44 | 2023 | percent |
| Government expenditure | 2.40 | Q1/2024 | billion |
| Tax revenue | 7.46 | 2021 | percent |
| Commercial tax rate | 37.20 | 2019 | percent |
| Tax preparation time | 408 | 2019 | hours |
| Number of taxes | 36 | 2019 | taxes |
| Taxes on goods and services | 33.26 | 2021 | percent |
| Taxes on international trade | 3.79 | 2021 | percent |
| Income and profits taxes | 29.06 | 2021 | percent |
| Foreign aid | 130.17 | 2022 | million U.S. dollars |