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% |
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 18.7% (2024)
- Manufactures imports 60.2% (2024)
- Merchandise imports 25.76 billion current US$ (2025)
- Food exports 73.6% (2024)
- Manufactures exports 10.9% (2024)
- Merchandise exports 11.90 billion current US$ (2025)
- Merchandise exports (current US$), per capita 2,604 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1316 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -9.7 % change on previous year (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.