Singapore: Shadow economy

* indicates monthly or quarterly data series
 Singapore

Shadow economy, percent of GDP

 Latest value 9.20
 Year 2015
 Measure percent
 Data availability 1991 - 2015
 Average 11.90
 Min - Max 9.20 - 13.76
 Source Medina and Schneider (2018)
The latest value from 2015 is 9.2 percent, a decline from 9.9 percent in 2014. In comparison, the world average is 27.78 percent, based on data from 158 countries. Historically, the average for Singapore from 1991 to 2015 is 11.9 percent. The minimum value, 9.2 percent, was reached in 2015 while the maximum of 13.76 percent was recorded in 2002. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent data
Singapore - Shadow economy - Recent values chart

Historical series
Singapore - 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.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

All articles



 Related indicators Latest Reference Measure
 Rule of law 1.75 2023 points
 Government effectiveness 2.32 2023 points
 Control of corruption 2.04 2023 points
 Regulatory quality 2.31 2023 points
 Voice and accountability -0.07 2023 points
 Political stability 1.42 2023 points
 Corruption perceptions - Transparency International 83 2023 points
 Political rights 4 2024 points
 Civil liberties 4 2024 points
 Competitiveness 84.80 2019 points
 Cost of starting a business 0.40 2019 percent of per capita GNI
 Shadow economy 9.20 2015 percent
 Informal economy, MIMIC method 12.30 2020 percent
 Informal economy, DGE method 10.80 2020 percent
This site uses cookies.
Learn more here


OK