EconomyAug 2, 2024
Taxes Collected Relative to GDP Size in Every Major Economy ๐ธ
What Weโre Showing
A chart ranking major economies by their tax-to-GDP ratios, as sourced from OECD Revenue Statistics 2023.
What is the Tax-to-GDP Ratio?
The tax-to-GDP ratio is a financial snapshot that shows how much a government collects in taxes compared to the total value of all goods and services produced in a country (GDP). It's like measuring how much money a household spends on rent compared to its total income. A higher ratio generally means the government collects a larger portion of the economy's output through taxes.
Key Takeaways
- European countries have some of the highest tax revenues, relative to their economies, in the world
- A higher tax-to-GDP ratio indicates more government revenue to fund public services and social security measures
- Some countries, like Saudi Arabia, have a lower ratio simply because they do not need to fund government expenditure through taxation
- The World Bank says that a threshold of 15% is critical for economic growth and poverty reduction
Dataset
Country | Region | Tax-to-GDP Ratio |
---|---|---|
๐ซ๐ท France | Europe | 46% |
๐ฎ๐น Italy | Europe | 43% |
๐ฉ๐ช Germany | Europe | 39% |
๐ฌ๐ง UK | Europe | 34% |
๐จ๐ฆ Canada | Americas | 33% |
๐ง๐ท Brazil | Americas | 33% |
๐ฏ๐ต Japan | Asia | 33% |
๐ฐ๐ท South Korea | Asia | 32% |
๐ฆ๐ท Argentina | Americas | 30% |
๐ฆ๐บ Australia | Oceania | 30% |
๐บ๐ธ U.S. | Americas | 28% |
๐ฟ๐ฆ South Africa | Africa | 27% |
๐ท๐บ Russia | Europe | 23% |
๐น๐ท Tรผrkiye | Europe | 21% |
๐จ๐ณ China | Asia | 20% |
๐ฒ๐ฝ Mexico | Americas | 17% |
๐ฎ๐ณ India | Asia | 12% |
๐ฎ๐ฉ Indonesia | Asia | 12% |
๐ธ๐ฆ Saudi Arabia | Asia | 8% |
Data sources
Figures rounded. Data as of 2022, sourced from OECD Revenue Statistics 2023.
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