Dorothy Neufeld
2025-05-13 14:21:00
www.visualcapitalist.com
Mapped: The Size of the World’s Shadow Economies
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
- Globally, the shadow economy is estimated to equal 11.8% of GDP.
- The underground economy is valued at more than half of GDP in Sierra Leone, Niger, and Nepal.
- Meanwhile, America’s shadow economy accounts for 5% of GDP, valued at an estimated $1.4 trillion.
The global shadow economy generates trillions in revenue each year, driven by criminal activity and other unreported transactions.
In low income countries, shadow activity makes up a larger slice of GDP, standing at an estimated 42.4% share. In comparison, this drops to 5.9% of GDP in rich countries, with the UAE seeing the smallest share overall.
This graphic shows the size of each country’s shadow economy, based on analysis from the Ernst & Young Global Shadow Economy Report 2025.
Defining the Shadow Economy
To start, the shadow economy includes unreported or untaxed activity, making it difficult for authorities to monitor.
This includes illegal enterprises, drug trafficking, street vendors, or cash transactions made off the books. While measuring the informal economy is hard to quantify, it has shrunk from 17.7% of world GDP in 2000 to 11.8% in 2023.
Breaking Down the Shadow Economy by Country
Here are countries with the largest shadow economies as a share of GDP:
| Rank | Country | Shadow Economy % of GDP in 2023 |
Shadow Economy Value | GDP 2023 |
|---|---|---|---|---|
| 1 |  Sierra Leone |
64.5 | $4.1B | $6.4B |
| 2 |  Niger |
56.3 | $9.5B | $16.8B |
| 3 |  Nepal |
51.0 | $20.9B | $40.9B |
| 4 |  Ethiopia |
50.2 | $80.2B | $159.8B |
| 5 |  Burundi |
49.2 | $2.1B | $4.2B |
| 6 |  Mali |
46.8 | $9.5B | $20.2B |
| 7 |  Tanzania |
44.7 | $35.4B | $79.1B |
| 8 |  Burkina Faso |
43.8 | $8.9B | $20.3B |
| 9 |  DRC |
42.1 | $28.2B | $66.9B |
| 10 |  Mozambique |
39.8 | $8.4B | $21.0B |
| 11 |  Kenya |
38.4 | $41.8B | $108.8B |
| 12 |  Myanmar |
37.9 | $24.4B | $64.5B |
| 13 |  Zambia |
35.6 | $10.0B | $28.2B |
| 14 |  Pakistan |
35.0 | $118.1B | $337.5B |
| 15 |  Sudan |
34.9 | $13.3B | $38.1B |
| 16 |  Cameroon |
33.3 | $16.4B | $49.3B |
| 17 |  Tajikistan |
33.2 | $4.0B | $11.9B |
| 18 |  Benin |
32.9 | $6.5B | $19.7B |
| 19 |  Congo |
32.6 | $4.6B | $14.2B |
| 20 |  Bolivia |
32.1 | $14.6B | $45.5B |
| 21 |  Papua New Guinea |
31.4 | $9.6B | $30.7B |
| 22 |  Uganda |
31.1 | $15.2B | $48.8B |
| 23 |  Lesotho |
30.9 | $0.6B | $2.1B |
| 24 |  Malawi |
30.9 | $3.9B | $12.7B |
| 25 |  Nicaragua |
30.7 | $5.5B | $17.8B |
| 26 |  Angola |
30.2 | $25.6B | $84.8B |
| 27 |  Nigeria |
30.0 | $109.1B | $363.8B |
| 28 |  Bangladesh |
29.0 | $126.8B | $437.4B |
| 29 |  Cote d’Ivoire |
28.8 | $22.7B | $78.9B |
| 30 |  Togo |
28.1 | $2.6B | $9.2B |
| 31 |  Albania |
27.8 | $6.5B | $23.5B |
| 32 |  Peru |
27.1 | $72.5B | $267.6B |
| 33 |  Morocco |
27.0 | $39.0B | $144.4B |
| 34 |  Ghana |
26.8 | $20.5B | $76.4B |
| 35 |  Honduras |
26.7 | $9.2B | $34.4B |
| 36 |  Ecuador |
26.5 | $31.5B | $118.8B |
| 37 |  Cambodia |
26.4 | $11.2B | $42.3B |
| 38 |  South Africa |
26.3 | $100.1B | $380.7B |
| 39 |  India |
26.1 | $931.1B | $3,567.6B |
| 40 |  Vietnam |
25.1 | $107.9B | $429.7B |
| 41 |  Iraq |
24.8 | $62.2B | $250.8B |
| 42 |  Uzbekistan |
24.4 | $24.8B | $101.6B |
| 43 |  Guatemala |
24.3 | $25.4B | $104.5B |
| 44 |  Algeria |
24.2 | $59.9B | $247.6B |
| 45 |  Thailand |
24.0 | $123.6B | $515.0B |
| 46 |  Indonesia |
23.8 | $326.3B | $1,371.2B |
| 47 |  Gabon |
23.1 | $4.5B | $19.4B |
| 48 |  Iran |
22.5 | $91.0B | $404.6B |
| 49 |  Georgia |
22.1 | $6.8B | $30.8B |
| 50 |  Egypt |
21.2 | $84.0B | $396.0B |
| 51 |  Tunisia |
21.2 | $10.3B | $48.5B |
| 52 |  Colombia |
20.9 | $76.0B | $363.5B |
| 53 |  Paraguay |
20.9 | $9.0B | $43.0B |
| 54 |  Philippines |
20.7 | $90.5B | $437.1B |
| 55 |  Brazil |
20.6 | $447.8B | $2,173.7B |
| 56 |  China |
20.3 | $3,612.3B | $17,794.8B |
| 57 |  SriLanka |
20.1 | $17.0B | $84.4B |
| 58 |  El Salvador |
19.9 | $6.8B | $34.0B |
| 59 |  Turkmenistan |
19.7 | $11.9B | $60.6B |
| 60 |  Lebanon |
19.6 | N/A | N/A |
| 61 |  Ukraine |
19.3 | $34.5B | $178.8B |
| 62 |  Armenia |
18.9 | $4.6B | $24.1B |
| 63 |  Bosnia and Herzegovina |
18.6 | $5.1B | $27.5B |
| 64 |  Belarus |
18.3 | $13.2B | $71.9B |
| 65 |  Jordan |
18.3 | $9.3B | $51.0B |
| 66 |  Mexico |
17.9 | $320.2B | $1,789.1B |
| 67 |  Argentina |
17.8 | $115.0B | $646.1B |
| 68 |  Azerbaijan |
17.7 | $12.8B | $72.4B |
| 69 |  Serbia |
17.2 | $14.0B | $81.3B |
| 70 |  Botswana |
17.0 | $3.3B | $19.4B |
| 71 |  North Macedonia |
16.9 | $2.7B | $15.8B |
| 72 |  Libya |
16.3 | $7.4B | $45.1B |
| 73 |  Dominican Republic |
16.2 | $19.7B | $121.4B |
| 74 |  Türkiye |
16.1 | $180.0B | $1,118.3B |
| 75 |  Costa Rica |
13.8 | $11.9B | $86.5B |
| 76 |  Montenegro |
13.6 | $1.0B | $7.5B |
| 77 |  Uruguay |
13.5 | $10.4B | $77.2B |
| 78 |  Romania |
13.1 | $46.0B | $350.8B |
| 79 |  Russia |
13.1 | $264.8B | $2,021.4B |
| 80 |  Malaysia |
12.3 | $49.2B | $399.7B |
| 81 |  Panama |
12.1 | $10.1B | $83.3B |
| 82 |  Greece |
12.0 | $29.2B | $243.5B |
| 83 |  Chile |
11.9 | $39.9B | $335.5B |
| 84 |  Guyana |
11.8 | $2.0B | $17.2B |
| 85 |  Kazakhstan |
11.2 | $29.4B | $262.6B |
| 86 |  Mauritius |
10.6 | $1.5B | $14.6B |
| 87 |  Bulgaria |
10.5 | $10.8B | $102.4B |
| 88 |  Puerto Rico |
10.3 | $12.1B | $117.9B |
| 89 |  Poland |
9.7 | $78.5B | $809.2B |
| 90 |  Croatia |
9.3 | $7.8B | $84.4B |
| 91 |  Latvia |
9.3 | $3.9B | $42.2B |
| 92 |  Portugal |
9.3 | $26.9B | $289.1B |
| 93 |  Hungary |
9.2 | $19.5B | $212.4B |
| 94 |  Slovak Republic |
8.9 | $11.8B | $132.9B |
| 95 |  New Zealand |
8.2 | $20.7B | $252.2B |
| 96 |  Slovenia |
8.0 | $5.5B | $69.1B |
| 97 |  Italy |
7.8 | $179.5B | $2,300.9B |
| 98 |  Iceland |
7.6 | $2.4B | $31.3B |
| 99 |  Korea |
7.6 | $130.2B | $1,712.8B |
| 100 |  Malta |
7.5 | $1.7B | $22.3B |
| 101 |  Spain |
7.5 | $121.5B | $1,620.1B |
| 102 |  Estonia |
7.4 | $3.1B | $41.3B |
| 103 |  Lithuania |
7.4 | $5.9B | $79.8B |
| 104 |  Germany |
6.8 | $307.7B | $4,525.7B |
| 105 |  France |
6.7 | $204.5B | $3,051.8B |
| 106 |  Japan |
6.7 | $281.7B | $4,204.5B |
| 107 |  Sweden |
6.7 | $39.2B | $585.0B |
| 108 |  Austria |
6.6 | $33.8B | $511.7B |
| 109 |  Belgium |
6.6 | $42.6B | $644.8B |
| 110 |  Finland |
6.6 | $19.5B | $295.5B |
| 111 |  Czechia |
6.5 | $22.3B | $343.2B |
| 112 |  Norway |
6.4 | $31.1B | $485.3B |
| 113 |  Oman |
6.4 | $7.0B | $108.8B |
| 114 |  Netherlands |
6.3 | $72.7B | $1,154.4B |
| 115 |  Luxembourg |
6.1 | $5.2B | $85.8B |
| 116 |  Denmark |
5.9 | $24.0B | $407.1B |
| 117 |  Australia |
5.7 | $98.5B | $1,728.1B |
| 118 |  Israel |
5.5 | $28.2B | $513.6B |
| 119 |  Bahamas |
5.4 | $0.8B | $14.3B |
| 120 |  Cyprus |
5.3 | $1.8B | $33.9B |
| 121 |  UK |
5.3 | $179.2B | $3,380.9B |
| 122 |  Saudi Arabia |
5.2 | $55.5B | $1,067.6B |
| 123 |  Ireland |
5.1 | $28.1B | $551.4B |
| 124 |  Switzerland |
5.1 | $45.1B | $884.9B |
| 125 |  United States |
5.0 | $1,386.0B | $27,720.7B |
| 126 |  Canada |
4.5 | $96.4B | $2,142.5B |
| 127 |  Kuwait |
4.0 | $6.5B | $163.7B |
| 128 |  Singapore |
3.4 | $17.0B | $501.4B |
| 129 |  Bahrain |
2.5 | $1.2B | $46.1B |
| 130 |  Qatar |
2.2 | $4.7B | $213.0B |
| 131 |  UAE |
2.1 | $10.8B | $514.1B |
As we can see, Sierra Leone ranks first overall, with its shadow economy equaling 64.5% of GDP.
Like many other sub-Saharan African countries, the informal economy employs millions of workers, including subsistence farmers, street vendors, and small business owners. Underscoring this trend are limited opportunities in the formal sector along with bureaucratic red tape.
In particular, the DRC stands out in both the scale of its informal economy and prevalence of organized crime.
Meanwhile, Nepal ranks third overall, with shadow activity accounting for 51% of GDP. Notably, the agriculture sector employs a substantial share of informal workers. In fact, 85% of Nepal’s labor force participates in the informal economy, making it a vital source of livelihood for many.
In contrast, America’s underground economy comprises just 5% of GDP, yet its sheer size—valued at $1.4 trillion—makes it one of the world’s largest.
Learn More on the Voronoi App 
To learn more about this topic from a violent crime perspective, check out this graphic on violent crime rates by U.S. state.
Keep your files stored safely and securely with the SanDisk 2TB Extreme Portable SSD. With over 69,505 ratings and an impressive 4.6 out of 5 stars, this product has been purchased over 8K+ times in the past month. At only $129.99, this Amazon’s Choice product is a must-have for secure file storage.
Help keep private content private with the included password protection featuring 256-bit AES hardware encryption. Order now for just $129.99 on Amazon!
Help Power Techcratic’s Future – Scan To Support
If Techcratic’s content and insights have helped you, consider giving back by supporting the platform with crypto. Every contribution makes a difference, whether it’s for high-quality content, server maintenance, or future updates. Techcratic is constantly evolving, and your support helps drive that progress.
As a solo operator who wears all the hats, creating content, managing the tech, and running the site, your support allows me to stay focused on delivering valuable resources. Your support keeps everything running smoothly and enables me to continue creating the content you love. I’m deeply grateful for your support, it truly means the world to me! Thank you!
|
BITCOIN
bc1qlszw7elx2qahjwvaryh0tkgg8y68enw30gpvge Scan the QR code with your crypto wallet app |
|
DOGECOIN
D64GwvvYQxFXYyan3oQCrmWfidf6T3JpBA Scan the QR code with your crypto wallet app |
|
ETHEREUM
0xe9BC980DF3d985730dA827996B43E4A62CCBAA7a Scan the QR code with your crypto wallet app |
Please read the Privacy and Security Disclaimer on how Techcratic handles your support.
Disclaimer: As an Amazon Associate, Techcratic may earn from qualifying purchases.
