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It is said that, each one does what they want with their money, but in the future there is the question of whether each one You can pay as you want. Cash is still a important part of day -to -day paymentswhat has generated an unequal career in half the world and a problem: the submerged economy, which in many countries is a good percentage of GDP.
And on this map prepared by Visual Capitalist It is perfectly reflected, although we must bear in mind that the percentages … they deceive.
In the shadow. There are countries that have A crusade against cashand that is why you are promoting payment in digital and tools such as Digital euro. The map is based on the Global Report of Economy in the 2025 shadow of Ernst & Young and reflects which part of the GDP of each country escaped to fiscal control in 2023.
Complicated. While this informal economy represents a significant loss of tax revenues for governments, it is really complicated to obtain an exact figure. That is because they are all those economic activities that are not declared and, therefore, regulated.
For example, payments without invoice to avoid VAT, but also not declared and without contract, Rentals without contract or something that seems as innocent as some private classes in which no invoice is issued. Depending on the study, percentages of GDP by country or others are handled, but there is something that does not usually vary, and it is the difference between hemispheres.
North. Worldwide, it is estimated that the submerged economy is equivalent to 11.8% of GDP and, although there are exceptions, there is a clear line that divides the world into north and south if we get carried away by that percentage of GDP that would correspond to money from the submerged economy.
In Europe, countries such as Poland, Spain, Portugal, Italy or Greece have higher levels of submerged economy. Countries like Greece, Romania or Ukraine raise the average, and in others as Albania we talk about more than 27% of its economy belonging to the submerged economy.
Canada and the United States remain at 4.5% and 5% respectively, Saudi Arabia has 5.2%, Japan 6.7%, Mexico 18% and in Central America we see that the level of submerged economy is increasing.
South. Australia with 5.7% is one of the exceptions of countries in the southern hemisphere with a submerged economy contained, since in most of the rest, the percentage is overwhelming. Latin America It has a high level of submerged economy, but nothing is left if we compare it with what we see in Africa and some Asian countries.
Africa takes the palm and it is estimated that, if Sierra Leone had a GDP of 6,400 million dollars in 2023, it had another 4.1 billion dollars, or 64.5% compared to GDP, in submerged economy. It is not an isolated case, since Nigeria, Ethiopia or Burundi are also cases in which the submerged economy is 50% or more of its GDP.
And Asia. In Asia, the film is not so dramatic, but it is also not the region with the more transparent economy. India submerged would be comparable to 26% of its GDP, in Iran and Iraq it is similar, in Nepal it rises to 51% and then we have the case of China with 20%.
It is not much if we compare it with the rest of the territory, but taking into account the amount of population that hasWe talk about important quantities. The same happens in Indiawith 26% that is much less than what is seen in many African countries, but that in total numbers, is much more.
The percentages deceive. Because here there is something to take into account, 64.5% of Sierra Leone GDP has nothing to do with 5% of the United States. The higher an economy, although the percentage of submerged economy is lower, the total will be astronomical.
In This other graph It can be seen perfectly, since that 20% of China translates into a total of 3.3 billion euros and the United States, with that “scarce” 5% submerged economy, translates into the largest economy in the shadow of the planet with 1.3 billion euros.
Cash safety. As we said, there are countries trying Face this economy In the shadow. Portugal, for example, has converted invoices into lottery ticketsbecause not all activities that are not declared are illegal and the objective is that there are higher tax revenues.
Paying with a card or digital media seems to the solution and, although it raises doubts about its operation without internet or electricity, the recent April blackout showed that There were TPV terminals prepared for it And that the future digital euro … It is too.
If it arrives one day.
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