The global informal, also known as the shadow economy, moves around one billion euros annually, fuelled by criminal activities and undeclared transactions. It is estimated that this black economy represents around 11.8% of global GDP, and in Portugal, it represents around 9.3%.

In countries such as Sierra Leone, Niger and Nepal, this share exceeds half of GDP, reflecting the strong dependence on unregulated activities. In China, for example, the informal economy represents 20.3% of GDP, estimated at 3.6 billion dollars, while in the USA it reaches around 5% of GDP, or 1.4 billion dollars.

In low-income countries, the informal economy is even more significant, representing around 42.4% of GDP. In richer countries, this proportion is significantly lower, representing approximately 5.9%, with the United Arab Emirates having the lowest rate, at 5.2%.

Author: Visual Capitalist;

According to the Global Underground Economy Report 2025, prepared by Ernst & Young, the informal economy includes activities that are not declared or taxed, making it difficult for authorities to monitor them, and ranges from illegal businesses and drug trafficking to street vendors and unregistered cash transactions.

In many regions of sub-Saharan Africa, this informal economy is crucial for the employment of millions of people, including farmers, traders and small business owners, in a reality driven by the limitations of the formal economy and bureaucratic obstacles.

On the other hand, the shadow economy in European countries is among the lowest in the world, with the United Kingdom recording 5.3%, Denmark 5.9% and Norway 6.4%. The main economies in Europe have slightly higher percentages, such as France (6.7%), Germany (6.8%), Spain (7.5%) and Italy (7.8%).