Latin America & Caribbean: Tax revenue (% of GDP)

Key figures

What the numbers say

In 2024, Latin America & Caribbean's tax revenue (% of GDP) rose 0.66 percentage points on 2023 (from 14.06% to 14.72%).

Across the 13 yearly changes before that (2011 to 2023), the average change was +0.08 percentage points and a typical year strayed about 0.37 percentage points from that (the standard deviation). This year's change was 1.6 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 0.84 percentage points in 2021 and the biggest yearly fall was 0.34 percentage points in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 0.1 percentage points a year. A straight line explains 44% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

What this measures

Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a weighted average.

All 15 values

Tax revenue (% of GDP) in nearby economies

• Afghanistan — 9.9% (2017)
• Bahrain — 2.82% (2020)
• Egypt, Arab Rep. — 12.52% (2015)
• Israel — 23.24% (2024)
• Jordan — 15.52% (2023)
• Lebanon — 11.14% (2024)
• Malta — 24.08% (2024)
• Morocco — 22.68% (2024)
• Saudi Arabia — 8.09% (2024)
• United Arab Emirates — 0.65% (2024)

More public sector data for Latin America & Caribbean

• Military expenditure (current USD) — 73.39 billion (2025)
• Military expenditure (% of GDP) — 1.07% (2025)
• Arms imports (SIPRI trend indicator values) — 782 million (2025)
• Armed forces personnel, total — 2.74 million (2020)
• Armed forces personnel (% of total labor force) — 0.94% (2020)
• Taxes on international trade (% of revenue) — 3.6% (2024)
• Taxes on income, profits and capital gains (% of revenue) — 29.14% (2024)
• Interest payments (% of revenue) — 13.9% (2024)
• Taxes on goods and services (% of revenue)

Reading data like this

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Questions people ask

What is Latin America & Caribbean's tax revenue (% of GDP)?

14.72% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2010?

It is up 1.66 percentage points from 13.05% in 2010. The highest value was 14.72% in 2024 and the lowest 13.05% in 2010.

Is the latest change in tax revenue (% of GDP) unusual for Latin America & Caribbean?

In 2024, Latin America & Caribbean's tax revenue (% of GDP) rose 0.66 percentage points on 2023 (from 14.06% to 14.72%). Across the 13 yearly changes before that (2011 to 2023), the average change was +0.08 percentage points and a typical year strayed about 0.37 percentage points from that (the standard deviation). This year's change was 1.6 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).

Source

World Bank, World Development Indicators, indicator GC.TAX.TOTL.GD.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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