Latvia: Shadow economy

* indicates monthly or quarterly data series
 Latvia

Shadow economy, percent of GDP

 Latest value 16.62
 Year 2015
 Measure percent
 Data availability 1991 - 2015
 Average 22.23
 Min - Max 15.92 - 28.65
 Source Medina and Schneider (2018)
For that indicator, we provide data for Latvia from 1991 to 2015. The average value for Latvia during that period was 22.23 percent with a minimum of 15.92 percent in 2014 and a maximum of 28.65 percent in 1995. The latest value from 2015 is 16.62 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
Latvia - Shadow economy - recent values

Historical chart
Latvia - 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?


 Related indicators Latest value Reference Measure
 Rule of law 0.92 2022 points
 Government effectiveness 0.69 2022 points
 Control of corruption 0.69 2022 points
 Regulatory quality 1.17 2022 points
 Voice and accountability 0.93 2022 points
 Political stability 0.48 2022 points
 Corruption perceptions - Transparency International 59 2022 points
 Political rights 1 2020 points
 Civil liberties 2 2020 points
 Competitiveness 67.00 2019 points
 Cost of starting a business 1.50 2019 percent of per capita GNI
 Shadow economy 16.62 2015 percent
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