Shadow Economy Index for the Baltic Countries

The aim of the Stockholm School of Economics in Riga (SSE Riga) "Shadow Economy Index for the Baltic Countries" is to measure and analyze the size of the shadow economies in Latvia, Lithuania, and Estonia, as well as to identify the main factors influencing participation in the shadow economy. The Index has been measured annually since 2009. 

On May 12, 2024, the annual results of the SSE Riga "Shadow Economy Index for the Baltic Countries" were announced.

The latest data reveals that the volume of the shadow economy in Latvia decreased in 2023 to 22.9% of GDP, a decrease of 3.6 percentage points compared to 2022. In Estonia, there was a slight reduction in the shadow economy for 2023, now at 17.9% of GDP, down from 18.0% in 2022. In contrast, Lithuania saw an increase in its shadow economy in 2023, rising by 0.6 percentage points compared to 2022, reaching 26.4% of GDP.


The study presentations in Latvian and English are available below.

The video recording from June 12, 2024, of the annual SSE Riga "Shadow Economy Index in the Baltic States" presentation, followed by a discussion among politicians, state institution representatives, and entrepreneurs. The event was organized in cooperation with the Latvian Chamber of Commerce and Industry (LCCI).  

In cooperation with




Arnis Sauka
Professor. Head of the Centre for Sustainable Business.. Read More
+371 26043567
Tālis J. Putniņš
Professor. BSc. Courses: Financial Economics. Read More