Panama: Taxes less subsidies on products (current LCU)

Key figures

What the numbers say

In 2025, Panama's taxes less subsidies on products (current LCU) rose 4.1% on 2024 (from 2.14 billion to 2.23 billion).

Across the 30 yearly changes before that (1995 to 2024), the average change was +6.7% and a typical year strayed about 12.2% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 52.6% in 1990 and the biggest yearly fall was 48.9% in 1988. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 there is no clear straight-line trend: a straight line explains 4% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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

How it compares

In 2025, Panama had the 130th highest value of the 150 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Panama in the 2025 ranking

• Qatar — 127th of 150: 4.42 billion
• Cyprus — 128th of 150: 3.97 billion
• Kosovo — 129th of 150: 2.37 billion
• Fiji — 131st of 150: 2.15 billion
• Malta — 132nd of 150: 2 billion
• Montenegro — 133rd of 150: 1.8 billion

What this measures

Taxes less subsidies on products are taxes payable per unit of a good or service. 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.

All 66 values

Taxes less subsidies on products (current LCU) in nearby economies

• Antigua and Barbuda — 737.4 million (2025)
• Argentina — 130.88 trillion (2025)
• Aruba — 861.28 million (2023)
• Bahamas, The — 1.95 billion (2024)
• Barbados — 1.67 billion (2025)
• Belize — 963.64 million (2024)
• Bolivia — 24.85 billion (2024)
• Brazil — 1.79 trillion (2025)
• Cayman Islands — 347.01 million (2024)
• Chile

More economic policy & debt data for Panama

• Total reserves, including gold (current US$) — US$6.24 billion (2025)
• Total reserves, excluding gold (current US$) — US$6.24 billion (2025)
• Gross Value Added (GVA) at basic prices (current US$) — US$88.24 billion (2025)
• Gross Value Added (GVA) at basic prices (current LCU) — 88.24 billion (2025)
• GDP (current US$) — US$90.46 billion (2025)
• GDP (current LCU) — 90.46 billion (2025)
• GDP (constant 2015 US$) — US$80.68 billion (2025)
• GDP (constant LCU) — 84.75 billion (2025)
• GDP per capita (current US$) — US$19,790 (2025)
• GDP per capita (current LCU) — 19,790 (2025)

Reading data like this

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Questions people ask

What is Panama's taxes less subsidies on products (current LCU)?

2.23 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 9,181% from 23.99 million in 1960 (7.22% a year on average, compounded). The highest value was 2.38 billion in 2016 and the lowest 23.99 million in 1960.

How does Panama rank?

130th highest of 150 economies with data for 2025.

Is the latest change in taxes less subsidies on products (current LCU) unusual for Panama?

In 2025, Panama's taxes less subsidies on products (current LCU) rose 4.1% on 2024 (from 2.14 billion to 2.23 billion). Across the 30 yearly changes before that (1995 to 2024), the average change was +6.7% and a typical year strayed about 12.2% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.TAX.NIND.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) 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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