Shadow economy - Country rankings

* indicates monthly or quarterly data series

Shadow economy, percent of GDP, 2015:

The average for 2015 based on 158 countries was 27.78 percent. The highest value was in Zimbabwe: 67 percent and the lowest value was in Switzerland: 6.94 percent. The indicator is available from 1991 to 2015. Below is a chart for all countries where data are available.

Measure: percent; Source: Medina and Schneider (2018)
Select indicator
* indicates monthly or quarterly data series


Countries Shadow economy, 2015 Global rank Available data
Zimbabwe 67 1 1991 - 2015
Haiti 56.38 2 1991 - 2015
Georgia 53.07 3 1991 - 2015
Nigeria 52.49 4 1991 - 2015
Gabon 52.01 5 1991 - 2015
Burma 50.99 6 1991 - 2015
C.A. Republic 50.71 7 1991 - 2015
Benin 48.28 8 1991 - 2015
DR Congo 46.95 9 1991 - 2015
Guatemala 46.88 10 1991 - 2015
Bolivia 45.98 11 1991 - 2015
Madagascar 45.29 12 1991 - 2015
Liberia 43.67 13 1991 - 2015
Azerbaijan 43.66 14 1991 - 2015
Gambia 43.64 15 1991 - 2015
Thailand 43.12 16 1991 - 2015
Ukraine 42.9 17 1991 - 2015
El Salvador 42.6 18 1991 - 2015
Ivory Coast 42.4 19 1991 - 2015
Belize 42.29 20 1991 - 2015
Guinea 41.58 21 1991 - 2015
Peru 41.53 22 1991 - 2015
Swaziland 40.94 23 1991 - 2015
Comoros 40.92 24 1991 - 2015
Moldova 39.68 25 1991 - 2015
Nicaragua 39.51 26 1991 - 2015
Ghana 39.37 27 1991 - 2015
Tanzania 38.91 28 1991 - 2015
Bahamas 38.55 29 1991 - 2015
Libya 38.27 30 1991 - 2015
Tajikistan 37.73 31 1991 - 2015
Honduras 37.68 32 1991 - 2015
Eritrea 36.53 33 1991 - 2015
Armenia 35.96 34 1991 - 2015
Burundi 35.68 35 1991 - 2015
Sri Lanka 35.49 36 1991 - 2015
Angola 35.25 37 1991 - 2015
Brazil 35.22 38 1991 - 2015
Papua N.G. 35.16 39 1991 - 2015
R. of Congo 35.05 40 1991 - 2015
G.-Bissau 34.94 41 1991 - 2015
Sierra Leone 34.18 42 1991 - 2015
Niger 34.12 43 1991 - 2015
Cambodia 33.85 44 1991 - 2015
Russia 33.72 45 1991 - 2015
Senegal 33.68 46 1991 - 2015
Venezuela 33.63 47 1991 - 2015
Malawi 33.56 48 1991 - 2015
Kenya 33.43 49 1991 - 2015
Egypt 33.32 50 1991 - 2015
Zambia 32.99 51 1991 - 2015
Kazakhstan 32.82 52 1991 - 2015
Belarus 32.37 53 1991 - 2015
Lesotho 32.32 54 1991 - 2015
Cyprus 32.2 55 1991 - 2015
Uganda 31.88 56 1991 - 2015
Paraguay 31.66 57 1991 - 2015
Pakistan 31.62 58 1991 - 2015
Togo 31.49 59 1991 - 2015
Tr.&Tobago 31.4 60 1991 - 2015
Eq. Guinea 31.38 61 1991 - 2015
Mozambique 30.98 62 1991 - 2015
Tunisia 30.9 63 1991 - 2015
Solomon Isl. 30.89 64 1991 - 2015
Kyrgyzstan 30.78 65 1991 - 2015
Brunei 30.44 66 1991 - 2015
Cape Verde 30.23 67 1991 - 2015
Nepal 30.22 68 1991 - 2015
Ecuador 30.18 69 1991 - 2015
Bosnia & Herz. 29.88 70 1991 - 2015
Burkina Faso 29.63 71 1991 - 2015
Mali 29.45 72 1991 - 2015
Malta 29.43 73 1991 - 2015
Lebanon 29.16 74 1991 - 2015
Taiwan 28.97 75 1991 - 2015
Cameroon 28.93 76 1991 - 2015
Yemen 28.81 77 1991 - 2015
Chad 28.76 78 1991 - 2015
Mexico 28.07 79 1991 - 2015
Rwanda 28.05 80 1991 - 2015
Philippines 28.04 81 1991 - 2015
Domin. Rep. 27.97 82 1991 - 2015
Bangladesh 27.6 83 1991 - 2015
Turkey 27.43 84 1991 - 2015
Morocco 27.13 85 1991 - 2015
Greece 26.45 86 1991 - 2015
Albania 26.21 87 1991 - 2015
Guyana 26.09 88 1991 - 2015
Malaysia 26.07 89 1991 - 2015
Mauritania 25.75 90 1991 - 2015
Fiji 25.37 91 1991 - 2015
Colombia 25.25 92 1991 - 2015
Ethiopia 25.1 93 1991 - 2015
Laos 25 94 1991 - 2015
Argentina 24.99 95 1991 - 2015
Jamaica 24.97 96 1991 - 2015
UA Emirates 24.26 97 1991 - 2015
Botswana 23.99 98 1991 - 2015
Algeria 23.98 99 1991 - 2015
Oman 23.91 100 1991 - 2015
Suriname 23.8 101 1991 - 2015
Italy 22.97 102 1991 - 2015
Croatia 22.96 103 1991 - 2015
Romania 22.94 104 1991 - 2015
Spain 22.01 105 1991 - 2015
South Africa 21.99 106 1991 - 2015
Namibia 21.78 107 1991 - 2015
Indonesia 21.76 108 1991 - 2015
Kuwait 21.72 109 1991 - 2015
Bulgaria 20.83 110 1991 - 2015
Maldives 20.65 111 1991 - 2015
Hungary 20.49 112 1991 - 2015
Uruguay 20.38 113 1991 - 2015
Bhutan 20.28 114 1991 - 2015
Slovenia 20.21 115 1991 - 2015
South Korea 19.83 116 1991 - 2015
Syria 19.53 117 1991 - 2015
Costa Rica 19.24 118 1991 - 2015
Mauritius 19.23 119 1991 - 2015
Israel 19.18 120 1991 - 2015
Lithuania 18.65 121 1991 - 2015
Estonia 18.49 122 1991 - 2015
Iran 18.38 123 1991 - 2015
India 17.89 124 1991 - 2015
Portugal 17.82 125 1991 - 2015
Belgium 17.8 126 1991 - 2015
Poland 16.67 127 1991 - 2015
Bahrain 16.63 128 1991 - 2015
Latvia 16.62 129 1991 - 2015
Jordan 15.16 130 1991 - 2015
Norway 15.07 131 1991 - 2015
Vietnam 14.78 132 1991 - 2015
Denmark 14.7 133 1991 - 2015
Saudi Arabia 14.7 134 1991 - 2015
Finland 13.3 135 1991 - 2015
Mongolia 13.2 136 1991 - 2015
Chile 13.16 137 1991 - 2015
Qatar 13.08 138 1991 - 2015
Iceland 12.45 139 1991 - 2015
Hong Kong 12.39 140 1991 - 2015
China 12.11 141 1991 - 2015
Sweden 11.74 142 1991 - 2015
France 11.65 143 1991 - 2015
Slovakia 11.18 144 1991 - 2015
Czechia 10.47 145 1991 - 2015
Luxembourg 10.38 146 1991 - 2015
Ireland 9.58 147 1991 - 2015
Canada 9.42 148 1991 - 2015
Singapore 9.2 149 1991 - 2015
Austria 9.01 150 1991 - 2015
New Zealand 8.97 151 1991 - 2015
UK 8.32 152 1991 - 2015
Japan 8.19 153 1991 - 2015
Australia 8.1 154 1991 - 2015
Netherlands 7.83 155 1991 - 2015
Germany 7.75 156 1991 - 2015
USA 7 157 1991 - 2015
Switzerland 6.94 158 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:

The unholy trinity of international finance

Most commonly used measures of corruption

All articles

1. Zimbabwe
2. Haiti
3. Georgia
4. Nigeria
5. Gabon
6. Burma
7. C.A. Republic
8. Benin
9. DR Congo
10. Guatemala
11. Bolivia
12. Madagascar
13. Liberia
14. Azerbaijan
15. Gambia
16. Thailand
17. Ukraine
18. El Salvador
19. Ivory Coast
20. Belize
21. Guinea
22. Peru
23. Swaziland
24. Comoros
25. Moldova
26. Nicaragua
27. Ghana
28. Tanzania
29. Bahamas
30. Libya
31. Tajikistan
32. Honduras
33. Eritrea
34. Armenia
35. Burundi
36. Sri Lanka
37. Angola
38. Brazil
39. Papua N.G.
40. R. of Congo
41. G.-Bissau
42. Sierra Leone
43. Niger
44. Cambodia
45. Russia
46. Senegal
47. Venezuela
48. Malawi
49. Kenya
50. Egypt
51. Zambia
52. Kazakhstan
53. Belarus
54. Lesotho
55. Cyprus
56. Uganda
57. Paraguay
58. Pakistan
59. Togo
60. Tr.&Tobago
61. Eq. Guinea
62. Mozambique
63. Tunisia
64. Solomon Isl.
65. Kyrgyzstan
66. Brunei
67. Cape Verde
68. Nepal
69. Ecuador
70. Bosnia & Herz.
71. Burkina Faso
72. Mali
73. Malta
74. Lebanon
75. Taiwan
76. Cameroon
77. Yemen
78. Chad
79. Mexico
80. Rwanda
81. Philippines
82. Domin. Rep.
83. Bangladesh
84. Turkey
85. Morocco
86. Greece
87. Albania
88. Guyana
89. Malaysia
90. Mauritania
91. Fiji
92. Colombia
93. Ethiopia
94. Laos
95. Argentina
96. Jamaica
97. UA Emirates
98. Botswana
99. Algeria
100. Oman
101. Suriname
102. Italy
103. Croatia
104. Romania
105. Spain
106. South Africa
107. Namibia
108. Indonesia
109. Kuwait
110. Bulgaria
111. Maldives
112. Hungary
113. Uruguay
114. Bhutan
115. Slovenia
116. South Korea
117. Syria
118. Costa Rica
119. Mauritius
120. Israel
121. Lithuania
122. Estonia
123. Iran
124. India
125. Portugal
126. Belgium
127. Poland
128. Bahrain
129. Latvia
130. Jordan
131. Norway
132. Vietnam
133. Denmark
134. Saudi Arabia
135. Finland
136. Mongolia
137. Chile
138. Qatar
139. Iceland
140. Hong Kong
141. China
142. Sweden
143. France
144. Slovakia
145. Czechia
146. Luxembourg
147. Ireland
148. Canada
149. Singapore
150. Austria
151. New Zealand
152. UK
153. Japan
154. Australia
155. Netherlands
156. Germany
157. USA
158. Switzerland
67.00
56.38
53.07
52.49
52.01
50.99
50.71
48.28
46.95
46.88
45.98
45.29
43.67
43.66
43.64
43.12
42.90
42.60
42.40
42.29
41.58
41.53
40.94
40.92
39.68
39.51
39.37
38.91
38.55
38.27
37.73
37.68
36.53
35.96
35.68
35.49
35.25
35.22
35.16
35.05
34.94
34.18
34.12
33.85
33.72
33.68
33.63
33.56
33.43
33.32
32.99
32.82
32.37
32.32
32.20
31.88
31.66
31.62
31.49
31.40
31.38
30.98
30.90
30.89
30.78
30.44
30.23
30.22
30.18
29.88
29.63
29.45
29.43
29.16
28.97
28.93
28.81
28.76
28.07
28.05
28.04
27.97
27.60
27.43
27.13
26.45
26.21
26.09
26.07
25.75
25.37
25.25
25.10
25.00
24.99
24.97
24.26
23.99
23.98
23.91
23.80
22.97
22.96
22.94
22.01
21.99
21.78
21.76
21.72
20.83
20.65
20.49
20.38
20.28
20.21
19.83
19.53
19.24
19.23
19.18
18.65
18.49
18.38
17.89
17.82
17.80
16.67
16.63
16.62
15.16
15.07
14.78
14.70
14.70
13.30
13.20
13.16
13.08
12.45
12.39
12.11
11.74
11.65
11.18
10.47
10.38
9.58
9.42
9.20
9.01
8.97
8.32
8.19
8.10
7.83
7.75
7.00
6.94
0
16.8
33.5
50.3
67


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