Black economy amounts to between “9 and 12 percent of GDP”
9 December 2020
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Press Release
9 December 2020
In the Media
IEA research quoted in The Telegraph
9 December 2020
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20 January 2026
IEA research cited in The Times
In a column for The Times by economics editor of The Sunday Times, David Smith cites IEA research estimating that the black economy amounts to between 9 and 12 percent of GDP, or roughly £200bn.
This, David argues, accounts for much of the reported £50 billion of “missing” banknotes.
Read the full article here.
This, David argues, accounts for much of the reported £50 billion of “missing” banknotes.
Read the full article here.
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