Estonia: Shadow economy

The latest value from 2015 is 18.49 percent, an increase from 17.52 percent in 2014. In comparison, the world average is 27.78 percent, based on data from 158 countries. Historically, the average for Estonia from 1991 to 2015 is 23.8 percent. The minimum value, 17.52 percent, was reached in 2014 while the maximum of 30.51 percent was recorded in 1995. See the global rankings for that indicator or use the country comparator to compare trends over time.

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.