Latvia’s grey economy proportion was 20.3% of GDP last year. It is 1% higher in comparison with 2015, according to results of the data from the Grey Economy in Baltic States 2009-2016 study.
The most common signs of grey economy in Latvia are undeclared income (42.1%), envelope wages (40.2%) and unregistered employees (17.7%).
In Lithuania, grey economy comprised 16.5% of GDP last year, which means an increase of 1.5%. Estonia’s grey economy index was 15.4% of GDP, which is an increase of 0.5%.
In 2015, the proportion of grey economy in Latvia, according to data from the study performed by SSE Riga Sustainable Business Center, was 21.3% of GDP, which is 2.2% less than 2014. The largest portion of grey economy in Latvia comprised of undeclared income (44.4%), envelope wages (34.9%) and unregistered employees (20.7%). (BNN/Business World Magazine)
Your advertisement under each post on this site. DETAILS