– Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP).
Latin America and Caribbean Tax Revenue as Percentage of GDP was 14.72 Percentage in 2024, up 4.7% on 2023. The Tax Revenue as a Percentage of GDP dataset for Latin America & the Caribbean provides a comprehensive assessment of government tax revenue relative to the region's economic output, offering valuable insights into fiscal capacity, revenue mobilization, and public finance performance.
Latin America and Caribbean Tax Revenue as Percentage of GDP moved from 13.67 Percentage in 2015 to 14.72 Percentage in 2024 (+7.7%), an average of +0.8% a year. The series high was 14.72 Percentage in 2024 and the low 13.11 Percentage in 2020.
The gap between the series high (2024) and low (2020) is 1.60 Percentage. The sharpest single-year move was +6.4% in 2021.
Within Latin America and Caribbean, Chile has the highest value in 2024 at 18.26 Percentage, 124.1% of the regional total.
Country ranking
Percentage. Sort by any column, or search for a country.
Latin America and Caribbean average, 2024: 14.72 Percentage. Per-capita values are averages, not additive totals.
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By region
Percentage, 2024. Each bar is that region's total.
Full series
Complete annual series with year-on-year change. Values are reported in Percentage.
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| Year | Percentage | Change vs prior year |
|---|---|---|
| 2024Peak | 14.72 | +4.7% |
| 2023 | 14.06 | −1.5% |
| 2022 | 14.27 | +2.3% |
| 2021 | 13.95 | +6.4% |
| 2020 Trough | 13.11 | −2.6% |
| 2019 | 13.46 | −0.3% |
| 2018 | 13.50 | +0.8% |
| 2017 | 13.39 | −2.4% |
| 2016 | 13.72 | +0.4% |
| 2015 | 13.67 | — |
Data definition
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.
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 a generally stable regional tax-to-GDP ratio with gradual improvement in recent years. The regional average stood at 13.67% in 2015, remained around 13–14% through 2020, increased to 13.95% in 2021, reached 14.27% in 2022, and rose further to 14.72% in 2024, the highest level during the period. The overall trend reflects improving fiscal performance and strengthening domestic revenue mobilization across the region.
Regional performance is driven by several major economies. Chile consistently recorded one of the highest tax-to-GDP ratios, peaking at 21.35% in 2022 before moderating to 18.26% in 2024, reflecting strong fiscal capacity. Colombia maintained relatively stable tax revenue, with a notable increase to 17.53% in 2023, while Brazil demonstrated steady improvement, rising from 13.63% in 2015 to 15.41% in 2024, the highest level in the decade. Mexico also strengthened its tax collection, increasing from 12.35% to 14.82% over the period. In contrast, Argentina experienced greater fluctuations, with tax revenue ranging between 9.79% and 12.34%, reflecting changing economic and fiscal conditions.
This dataset is a valuable resource for policymakers, economists, financial institutions, investors, and researchers evaluating fiscal sustainability, taxation efficiency, and government revenue performance across Latin America & the Caribbean. It supports regional and global benchmarking, tax policy evaluation, trend analysis, and revenue forecasting. Additionally, the data contributes to studies on public finance, macroeconomic stability, fiscal resilience, and sustainable economic development by demonstrating how tax revenues support public services, infrastructure investment, and long-term economic growth across the region.
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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.
Latin America and Caribbean Tax Revenue as Percentage of GDP was 14.72 Percentage in 2024, up 4.7% on 2023.
Latin America and Caribbean Tax Revenue as Percentage of GDP moved from 13.67 Percentage in 2015 to 14.72 Percentage in 2024 (+7.7%), an average of +0.8% a year. The series high was 14.72 Percentage in 2024 and the low 13.11 Percentage in 2020.
The highest value was 14.72 Percentage in 2024 and the lowest was 13.11 Percentage in 2020.
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.
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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