Analysts compare the size of Ukraine's shadow economy with those of other countries.
16 Articles
16 Articles
Analysts compare the size of Ukraine's shadow economy with those of other countries.
Prior to the full-scale war in 2021, Ukraine’s shadow economy was estimated to be around 30% of GDP. Last year, the Ministry of Economy reported that potentially 40% of the economy could take place in the shadows. However, in specific industries like trade, that figure might reach 60-70%. According to Ernst Young, the shadow economy represented 11.8% of total global GDP in 2023, based on the latest data. Concurrently, in about half of the countr…
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