 "Graphic: Greece's shadow economy is one-fifth of its GDP")
Some countries have much larger shadow economies than others. Greece’s shadow economy is worth over a fifth of its total output, and Italy’s isn’t far behind.
A country’s shadow economy 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 economy to be worth $650 bn.
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