Panama Tax Revenue
Tax revenue as % of GDP GC.TAX.TOTL.GD.ZS
7.46%
−0.59% (-7.3%)
Panama Tax Revenue (2014–2021)
Overview
Panama's tax revenue stood at 7.46% in 2021, a decline of +0.59% from 2020. Panama ranked 7th globally.
Data & projection
| Year | Tax Revenue | YoY change | Rank |
|---|---|---|---|
| 2021 | 7.46% | −0.59% | #7 |
| 2020 | 8.05% | −0.60% | #12 |
| 2019 | 8.65% | −0.94% | #13 |
| 2018 | 9.59% | −0.07% | #15 |
| 2017 | 9.67% | −0.39% | #15 |
| 2016 | 10.06% | +0.26% | #20 |
| 2015 | 9.80% | −0.16% | #18 |
| 2014 | 9.96% | – | #18 |
Detected Pattern
Export Boom Cycle
Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.
Reserves YoY +17.9%
GDP growth 2.9%
C/A balance 0.2%
Occurred 768 times, 546 successful
Analysis
Panama matched the Export Boom Cycle pattern in 1994. Historically, 71% of countries showing this pattern (546 out of 768) saw tax revenue improve within 24 months. View full analysis →
Frequently Asked Questions
What is Panama's tax revenue?▾
Panama's tax revenue was 7.46% in 2021. Ranked 7th globally. This represents a 7.3% decrease from the previous year.
What was the highest tax revenue in Panama?▾
Panama's tax revenue peaked at 10.06% in 2016.
What was the lowest tax revenue in Panama?▾
The lowest tax revenue in Panama was 7.46% in 2021.
How does Panama rank in tax revenue?▾
Panama ranks 7th globally in tax revenue as of 2021.
What is the World Bank indicator code for tax revenue?▾
The World Bank indicator code is GC.TAX.TOTL.GD.ZS. Data sourced from World Bank.
What is the tax revenue of Panama in 2021?▾
The tax revenue of Panama in 2021 was 7.46%. This ranks 7th in the world.
Cite this page
APA
Panama Tax Revenue. HistorySaid. Retrieved April 1, 2026, from https://historysaid.com/panama/tax-revenue
BibTeX
@misc{historysaid_panama_tax-revenue,
title = {Panama Tax Revenue},
url = {https://historysaid.com/panama/tax-revenue},
publisher = {HistorySaid},
year = {2026}
}