South Korea: Shadow economy

* indicates monthly or quarterly data series
 South Korea

Shadow economy, percent of GDP

 Latest value 19.83
 Reference 2015
 Measure percent
 Source Medina and Schneider (2018)

For that indicator, we provide data for South Korea from 1991 to 2015. The average value for South Korea during that period was 25.7 percent with a minimum of 19.83 percent in 2015 and a maximum of 30.04 percent in 1998. The latest value from 2015 is 19.83 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


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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?
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