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Relationship between GDP and tax revenue in the United States and in 2023

18 days ago
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This scatter chart displays GDP (current US$) against tax revenue (% of GDP) and is filtered where the country is the United States and the date is 2023. The data is about countries per year.

Analysis

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Legend

There are 4 fields used on this chart, including filters:

  • Date (year): Year period during which the metrics are collected.
  • Country: Name of country.
  • Gdp (current US$): GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • Tax Revenue (% of GDP): Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.

Details

This chart is based on data from: World Bank.

This chart can be used under the CC BY 4.0 license.