5 ms·

Is 3% really "small"?

• f38zf5vdt 5y ago
  The underground economy in developed countries is estimated at around 10% of the GDP, so comparatively yes. [1] [1] https://www.investopedia.com/articles/markets-economy/062216/how-underground-economy-affects-gdp.asp https://www.investopedia.com/articles/markets-economy/062216...
  • solitus 5y ago
    Good to know, thanks for the link!
  • marcosdumay 5y ago
    Underground economy is a term for any transaction that isn't reported to the government and don't pay taxes. It's not a name for illegal activity only. Most of it is perfectly legal or is illegal only because it's evading taxes.