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International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 18:27
Shadow economy contracted in Latvia, increased in Lithuania, Estonia
Over the past year, the proportion of Latvia's shadow economy has decreased by 2.2%. At the same time, the Lithuanian shadow economy has grown by 2.5% to 15% of GDP, and Estonia's shadow economy has expanded by 1.7% to 14.9% of GDP.
Undeclared income makes up the largest part of Latvia's shadow economy, or 44.4%, undeclared wages account for 34.9% and unregistered employees for 20.3%.
In Estonia, undeclared wages make up 59%, undeclared income 20.7% and unregistered employees 20.3% of the country's shadow economy.
In Lithuania, undeclared wages make up 42.3%, undeclared income 38% and unregistered employees 19.7% of the country's shadow economy.
As reported, in 2014 Latvia's shadow economy reached 23.5% of GDP, a 0.3 percentage points reduction from 2013.
In Lithuania, the shadow economy contracted at a faster rate. In 2014, the shadow economy reached 12.5% in Lithuania and 13.2% in Estonia.