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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 12:30

Shadow economy in Latvia at 20.3% of GDP in 2016

BC, Riga, 10.05.2017.Print version
The proportion of shadow economy in Latvia was 20.3 % of the country's gross domestic product last year, which is one percentage point less than in 2015, according to study Shadow Economy in the Baltic Countries 2009-2016 writes LETA.

Shadow economy in Latvia is comprised of unreported income (42.1%), salaries paid under the table (40.2%) and unreported employment (17.7%).


In Lithuania, shadow economy constituted 16.5% of GDP last year (increase by 1.5 ppt), and in Estonia - 15.4 % (up by 0.5 ppt).


The findings of the study were presented at the annual conference on shadow economy in Latvia, hosted by the Stockholm School of Economics in Riga.


According to the Stockholm School of Economics in Riga, the proportion of shadow economy in Latvia in 2015 was 21.3% of GDP, 2.2 ppt less than in 2014.






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