12 July 2019, 17:26

Shadow economy level in Ukraine reached 30%. This is the lowest since 2009.

Close

According to the calculations of the Ministry of Economic Development, in 2018, the level of the shadow economy was 30% of official GDP, which is 2 percentage points (pp) less compared to 2017.

This is evidenced by the data of the report “Main trends of the shadow economy in Ukraine”, which is published quarterly by the Ministry of Economic Development.

Comparing the similar indicators of previous years, the Ministry notes that this is the lowest level since 2009.

This level of the economy unshadowing can be regarded as one of the criteria for evaluating the effectiveness of the implemented reforms and their perception by society, – the department noted.

In terms of sectoral focus, the highest level of shadowing was recorded last year in the sector of financial and insurance activities – 40% of the industry’s gross value added, which is 10 pp better than the 2017 figure. In the extractive industry, according to the department, the level of the shadow economy declined by 8 pp, in trade – by 5 pp, in real estate transactions – by 4 pp.

The highest level of the shadow economy, according to the Ministry of Economic Development, was recorded in 2014 – 43% of official GDP.

According to the State Statistics Service, the real GDP of Ukraine in 2018 grew by 3.3% after its increase in 2017 by 2.5% and in 2016 by 2.4%. Nominal GDP in 2018 amounted to 3 trillion 558.7 billion UAH, and  84.19 thousand UAH per capita.