Tariff rate, most favored nation, simple mean, all products (%) in Panama
Panama: Tariff rate, most favored nation, simple mean, all products (%) was 5.1% in 2022. ▼ Falling
Tariff rate, most favored nation, simple mean, all products in Panama, 1997–2022
Source: Staff estimates. Measured in %.
Analysis
Panama recorded 5.1% for tariff rate, most favored nation, simple mean, all products in 2022. That is the lowest value across all 21 years on record.
Compared with earlier readings it is down 1.0% on the previous year and down 27.2% over ten years.
Over the whole period, tariff rate, most favored nation, simple mean, all products in Panama peaked at 12.2% in 1997 and was at its lowest, 5.1%, in 2022.
That places Panama 158th out of 186 countries with data for 2022, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 21 years of available data.
Tariff rate, most favored nation, simple mean, all products (%) in Panama, year by year
| Year | % | Change |
|---|---|---|
| 1997 | 12.2% | — |
| 1998 | 8.3% | -32.1% |
| 1999 | 8.3% | +0.2% |
| 2000 | 8.1% | -2.6% |
| 2001 | 7.8% | -3.8% |
| 2002 | 8.3% | +7.1% |
| 2003 | 7.6% | -9.4% |
| 2004 | 7.4% | -1.7% |
| 2005 | 7.3% | -1.3% |
| 2006 | 7.3% | +0.0% |
| 2007 | 7.2% | -1.2% |
| 2008 | 7.2% | +0.1% |
| 2009 | 7.2% | -1.4% |
| 2010 | 7.0% | -2.5% |
| 2011 | 6.9% | -1.6% |
| 2012 | 7.0% | +2.3% |
| 2013 | 6.9% | -2.0% |
| 2015 | 6.8% | -0.4% |
| 2020 | 5.2% | -24.8% |
| 2021 | 5.2% | +0.2% |
| 2022 | 5.1% | -1.0% |
Panama compared with similar countries
- Panama's 5.1% is below the median for high income countries, which is 5.2%, 98% of the median. (66 countries reporting)
- Panama's 5.1% is below the median for Latin America & Caribbean, which is 9.9%, 52% of the median. (35 countries reporting)
Biggest year-on-year movements
Years where Tariff rate, most favored nation, simple mean, all products (%) in Panama changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1998 | -32.1% | 12.2% | 8.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 9.6% | 8.3% | 12.2% | 3 |
| 2000s | 7.6% | 7.2% | 8.3% | 10 |
| 2010s | 6.9% | 6.8% | 7.0% | 5 |
| 2020s | 5.1% | 5.1% | 5.2% | 3 |
Countries ranked near Panama
More private sector data for Panama
- Merchandise trade 41.6% (2025)
- Food imports 19.0% (2025)
- Manufactures imports 60.7% (2025)
- Merchandise imports 25.76 billion current US$ (2025)
- Commercial service imports 5.82 billion current US$ (2025)
- Food exports 49.6% (2025)
- Manufactures exports 12.6% (2025)
- Merchandise exports 11.90 billion current US$ (2025)
- Commercial service exports 20.06 billion current US$ (2025)
- Merchandise exports (current US$), per capita 2,604 current US$ per person (2025)
Frequently asked questions
- What is tariff rate, most favored nation, simple mean, all products in Panama?
- Tariff rate, most favored nation, simple mean, all products in Panama was 5.1% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, simple mean, all products recorded in Panama?
- The highest recorded value was 12.2% in 1997.
- What is the lowest tariff rate, most favored nation, simple mean, all products recorded in Panama?
- The lowest recorded value was 5.1% in 2022.
- How does Panama rank for tariff rate, most favored nation, simple mean, all products?
- Panama ranks 158th out of 186 countries with data for 2022.
- Is tariff rate, most favored nation, simple mean, all products rising or falling in Panama?
- Over the last ten years it is down 27.2%. The long-run trend across the full record is falling.
- Where does this Panama data come from?
- The figures come from Staff estimates, published as part of Tariff rate, most favored nation, simple mean, all products (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 21 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Simple mean most favored nation tariff rate is the unweighted average of most favored nation rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups.