The size of Ukraine's underground economy is too large

According to experts, the underground economy of Ukraine has been estimated at 38.96% of GDP since 1991. This indicator was on the increase to the peak 57% in 1998.

The downward trend continued until 2008, the indicator falling to 36.65%. A financial crisis has caused an increase in the size of the underground economy oscillating between 39.2% and 43.5% from 2009 through 2014. In 2015 Ukraine's underground economy was estimated at 42.9%. By comparison, the size of the underground economy in developed countries ranges between 7% and 15%.