What is the scope of an ACCA

ACCA: Russia with the fourth largest shadow economy

Russia is the country with the fourth largest underground economy in the world. This is based on a forecast by the UK accounting association ACCA.

This year the scope corresponds to Black economy in Russia according to the ACCA forecast 39.29% of total GDP volume. By 2020 this could rise to 39.37%. Only achieved a worse result for 2017 Azerbaijan (66,12%), Nigeria (47.7%) and the Ukraine (46.12%). Theglobal average is 22.5%.

The size of the informal sector in Russia is increasing according to IMF data 33.6 trillion rubles (approx. 499 billion euros; exchange rate as of July 4, 2017). According to the ACCA ranking, Russia is considered to be fourth largest shadow economy of the world. In comparison, the shadow economy in the countries will be low for 2017United States (7,69%), Japan (9.89%) and China (10.17%).

Countries with the largest black economy

Source: ACCA; Status: 2017
country% of GDP
Sri Lanka38

Global development

The global value should from 23% (2011) on 21% (2025) of GDP share are falling. Still be in Developing countries expect an increase in the informal sector. The association defines undeclared work or the black market as “market-based production and payment of legal goods and services that are deliberately hidden from public authorities”.

For the evaluation, ACCA used qualitative and quantitative methods. Numerous factors played a role, including: economy (Performance, tax system, investments), Business (Competition), Demographics (Poverty, urbanization, education, unemployment), environment (Corruption, sense of guilt) and government (Employee protection, social security).

Categories Russia