Colombia: Shadow economy

* indicates monthly or quarterly data series

Shadow economy, percent of GDP

 Latest value 25.25
 Year 2015
 Measure percent
 Data availability 1991 - 2015
 Average 33.31
 Min - Max 25.25 - 39.10
 Source Medina and Schneider (2018)
For that indicator, we provide data for Colombia from 1991 to 2015. The average value for Colombia during that period was 33.31 percent with a minimum of 25.25 percent in 2015 and a maximum of 39.1 percent in 2000. The latest value from 2015 is 25.25 percent. For comparison, the world average in 2015 based on 158 countries is 27.78 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Colombia - Shadow economy - Recent values chart

Historical chart
Colombia - Shadow economy - historical chart - 1991-2015

Definition: The shadow economy as percent of total annual GDP. Detailed methodology of the estimations can be obtained from the following International Monetary Fund working paper by Leandro Medina and Friedrich Schneider (2018): Shadow Economies Around the World: What Did We Learn Over the Last 20 Years? The series are discontinued but can still serve as a benchmark in calibration exercises.

 Related indicators Latest value Reference Measure
 Rule of law -0.43 2022 points
 Government effectiveness 0.01 2022 points
 Control of corruption -0.36 2022 points
 Regulatory quality 0.14 2022 points
 Voice and accountability 0.17 2022 points
 Political stability -0.64 2022 points
 Corruption perceptions - Transparency International 39 2022 points
 Political rights 2 2024 points
 Civil liberties 3 2024 points
 Competitiveness 62.70 2019 points
 Cost of starting a business 14.10 2019 percent of per capita GNI
 Shadow economy 25.25 2015 percent
 Informal economy, MIMIC method 36.70 2020 percent
 Informal economy, DGE method 28.70 2020 percent
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