In 2023, Brazil led in global social security contributions tax revenue perceived by social security funds, substantially outpacing other countries. Notable performers in growth included Brazil (0.43%), the Philippines (5.83%), and Indonesia (5.03%), while Argentina (-2.62%) and Egypt (-5.68%) experienced declines. The Philippines marked a significant increasing trend, indicating financial enhancement possibilities. Developed countries like the United States and Germany showed moderate increases, reflecting stability amid economic factors.
Looking ahead, emerging economies display potential opportunities for dramatic SSC growth, while geopolitical stability and economic policies may significantly influence developed nations' contributions. Highlighting potential areas of concern, Denmark and other volatile markets may require strategic adjustments to mitigate revenue volatility.
Top countries in Social Security Contributions (SSC) Tax Revenue Perceived by Social Security Funds by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 163,800 | 2023 | +0.67% | +0.43% | View data |
| 2 | 2 Argentina | 28,460 | 2023 | -0.38% | -2.62% | View data |
| 3 | 3 Philippines | 10,930 | 2023 | +3.84% | +5.83% | View data |
| 4 | 4 Morocco | 8,290 | 2023 | +3.05% | +3.79% | View data |
| 5 | 5 Indonesia | 6,850 | 2023 | +5.66% | +5.03% | View data |
| 6 | 6 Bulgaria | 6,830 | 2023 | +3.2% | +3.52% | View data |
| 7 | 7 Ecuador | 6,710 | 2023 | +3.27% | +3.9% | View data |
| 8 | 8 Cuba | 6,540 | 2023 | +3.46% | +4.67% | View data |
| 9 | 9 Thailand | 6,260 | 2023 | +3.41% | +4.53% | View data |
| 10 | 10 Costa Rica | 5,780 | 2023 | +3.21% | +3.63% | View data |
