South Korea: Shadow economy

* indicates monthly or quarterly data series
 South Korea

Shadow economy, percent of GDP

 Latest value 19.83
 Year 2015
 Measure percent
 Data availability 1991 - 2015
 Average 25.70
 Min - Max 19.83 - 30.04
 Source Medina and Schneider (2018)
The latest value from 2015 is 19.83 percent, a decline from 20.36 percent in 2014. In comparison, the world average is 27.78 percent, based on data from 158 countries. Historically, the average for South Korea from 1991 to 2015 is 25.7 percent. The minimum value, 19.83 percent, was reached in 2015 while the maximum of 30.04 percent was recorded in 1998. 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 data
South Korea - Shadow economy - Recent values chart

Historical series
South Korea - 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.

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 Related indicators Latest Reference Measure
 Rule of law 1.16 2022 points
 Government effectiveness 1.35 2022 points
 Control of corruption 0.75 2022 points
 Regulatory quality 1.15 2022 points
 Voice and accountability 0.87 2022 points
 Political stability 0.56 2022 points
 Corruption perceptions - Transparency International 63 2023 points
 Political rights 2 2024 points
 Civil liberties 2 2024 points
 Competitiveness 79.60 2019 points
 Cost of starting a business 14.60 2019 percent of per capita GNI
 Shadow economy 19.83 2015 percent
 Informal economy, MIMIC method 26.00 2020 percent
 Informal economy, DGE method 22.50 2020 percent
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