Nations with the largest shadow economies.

Where Shadow Economies Are Well Established

Shadow economy as a percentage of GDP in selected countries (2017)

Shadow economy: the part of an economy involving goods and services which are paid for in cash, not declared for tax and therefore not actually part of the GDP.

Greece 21.5%

Italy 19.8%

Spain 17.2%

Norway 12.2%

Germany 10.4%

Canada 9.8%

Australia 9.4%

United Kingdom 9.4%

Japan 8.6%

Netherlands 8.4%

Switzerland 6.0%

United States 5.4%

Source: IAW, @wef, @StatistaCharts, Forbes

Posted on WSJ: The Daily Shot 11-September-2017