You are here: Home » International » News » Economy
Business Standard

Graphic: Greece's shadow economy is one-fifth of its GDP

Italy second among countries where shadow economies are well established

Business Standard 

shadow economy
World Economic Forum estimated the global shadow economy to be worth $650 billion

Some countries have much larger shadow economies than others. Greece’s shadow is worth over a fifth of its total output, and Italy’s isn’t far behind. 

A country’s shadow is the total value of transactions by businesses and individuals that occurs “off the books”. 

The World Economic Forum’s Global Agenda Council on Illicit Trade 2012-2014 estimated the global shadow to be worth $650 bn.



First Published: Mon, September 04 2017. 02:09 IST