Lower over the period
Colombia Tax Revenue as Percentage of GDP moved from 15.80 Percentage in 2015 to 15.22 Percentage in 2024 (−3.7%), an average of −0.4% a year. The series high was 17.53 Percentage in 2023 and the low 14.05 Percentage in 2020.
What Colombia Tax Revenue as Percentage of GDP shows
Colombia Tax Revenue as Percentage of GDP was 15.22 Percentage in 2024, down 13.2% on 2023. The Tax Revenue as a Percentage of GDP dataset for Colombia provides a comprehensive assessment of the country's tax collection performance relative to the size of its economy, offering valuable insights into fiscal capacity, government revenue generation, and public finance trends.
A 19.9% peak-to-trough swing
The gap between the series high (2023) and low (2020) is 3.49 Percentage. The sharpest single-year move was +14.9% in 2023.
Ranks 13 of 27 countries covered
Among the 27 countries in this dataset, Colombia ranks 13 for 2024, behind Denmark (33.36 Percentage) and Sweden (27.23 Percentage). It accounts for 110.1% of the global total in 2024.
Full series
Colombia Tax Revenue as Percentage of GDP by year
Complete annual series with year-on-year change. Values are reported in Percentage.
Scroll the table sideways to see all columns.
| Year | Percentage | Change vs prior year |
|---|---|---|
| 2024 | 15.22 | −13.2% |
| 2023Peak | 17.53 | +14.9% |
| 2022 | 15.26 | +5.7% |
| 2021 | 14.45 | +2.9% |
| 2020 Trough | 14.05 | −5.7% |
| 2019 | 14.90 | +2% |
| 2018 | 14.61 | −1.6% |
| 2017 | 14.85 | +3.2% |
| 2016 | 14.39 | −8.9% |
| 2015 | 15.80 | — |
Regional context
How Colombia compares in Latin America and Caribbean
Tax Revenue as Percentage of GDP by country, 2024, Percentage. Colombia is highlighted.
1Chile18.26
2Brazil15.41
3Colombia15.22
4Mexico14.82
5Argentina10.43
Data definition
Inclusions and exclusions
Tax Revenue as Percentage of GDP — – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
The data includes compulsory tax payments collected by the central government, such as taxes on income, profits and capital gains, payroll taxes, property taxes, taxes on goods and services (including VAT, GST, and excise duties), taxes on international trade, customs duties, and other taxes recorded under the IMF Government Finance Statistics (GFS) framework. The indicator is expressed as a percentage of GDP using standardized national accounts and government finance statistics.
The data excludes non-tax government revenue such as grants, fees, licenses, administrative charges, dividends from state-owned enterprises, and income from government assets. It also excludes fines, penalties, most social security contributions, refunds treated as negative revenue, and informal or unrecorded tax collections not captured in official government finance statistics. For many countries, the indicator reflects central government tax revenue only and may not include taxes collected by state, provincial, or local governments.
About this indicator
Tax Revenue as Percentage of GDP — – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
Measured as a Percentage, the dataset covers 2015–2024 and indicates relatively stable tax revenue with moderate fluctuations over the decade. Tax revenue accounted for 15.80% of GDP in 2015, declined to 14.39% in 2016, remained within the 14–15% range through 2022, and increased significantly to 17.53% in 2023, the highest level during the period, before moderating to 15.22% in 2024.
The year-wise trend reflects Colombia's evolving fiscal environment, with generally stable revenue collection followed by a notable increase in 2023, likely reflecting stronger revenue mobilization and fiscal policy adjustments. Although the ratio eased in 2024, it remained broadly consistent with historical levels, demonstrating the government's continued capacity to finance infrastructure, healthcare, education, social programs, and broader economic development.
This dataset is an important resource for policymakers, economists, financial institutions, investors, researchers, and international organizations evaluating fiscal sustainability, taxation efficiency, and macroeconomic performance. It supports benchmarking Colombia against regional and global economies, assessing the impact of tax policy reforms, monitoring long-term revenue trends, forecasting future government income, and analyzing the relationship between taxation, economic growth, and public expenditure. The data also contributes to research on public finance, fiscal resilience, government budgeting, and long-term economic competitiveness.
Overall, the 2015–2024 dataset highlights Colombia's relatively stable tax revenue performance relative to GDP, complemented by a significant increase in 2023 and subsequent normalization in 2024. It provides a reliable foundation for fiscal analysis, policy evaluation, investment planning, and long-term economic forecasting while supporting evidence-based decision-making in public finance.
- Indicator
- Tax Revenue as Percentage of GDP
- Country
- Colombia
- Region
- Latin America and Caribbean
- Unit
- Percentage
- Coverage
- 2015–2024, annual
- Category
- BFSI
- Last updated
- July 2026
- Source
- data.worldbank.org
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Frequently asked questions
What is Colombia Tax Revenue as Percentage of GDP?
Definition – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
What was Colombia Tax Revenue as Percentage of GDP in 2024?
Colombia Tax Revenue as Percentage of GDP was 15.22 Percentage in 2024, down 13.2% on 2023.
How has Colombia Tax Revenue as Percentage of GDP changed between 2015 and 2024?
Colombia Tax Revenue as Percentage of GDP moved from 15.80 Percentage in 2015 to 15.22 Percentage in 2024 (−3.7%), an average of −0.4% a year. The series high was 17.53 Percentage in 2023 and the low 14.05 Percentage in 2020.
Which year had the highest and lowest Colombia Tax Revenue as Percentage of GDP?
The highest value was 17.53 Percentage in 2023 and the lowest was 14.05 Percentage in 2020.
What does the Colombia Tax Revenue as Percentage of GDP data include and exclude?
Included: The data includes compulsory tax payments collected by the central government, such as taxes on income, profits and capital gains, payroll taxes, property taxes, taxes on goods and services (including VAT, GST, and excise duties), taxes on international trade, customs duties, and other taxes recorded under the IMF Government Finance Statistics (GFS) framework. The indicator is expressed as a percentage of GDP using standardized national accounts and government finance statistics. Excluded: The data excludes non-tax government revenue such as grants, fees, licenses, administrative charges, dividends from state-owned enterprises, and income from government assets. It also excludes fines, penalties, most social security contributions, refunds treated as negative revenue, and informal or unrecorded tax collections not captured in official government finance statistics. For many countries, the indicator reflects central government tax revenue only and may not include taxes collected by state, provincial, or local governments.
Where does the Colombia Tax Revenue as Percentage of GDP data come from?
The series is sourced from data.worldbank.org (https://data.worldbank.org/indicator/GC.TAX.TOTL.GD.ZS). It covers 2015–2024 and is reported in Percentage.
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