Illicit economic activity existing alongside a country’s official economy, e.g. black market transactions and undeclared work.
More example sentences
- Dimitrov said that the most serious problems that would have to be solved are organized smuggling channels, money laundering, the shadow economy and the existing mechanisms for customs fraud which received government protection.
- I think that the important thing is to focus on the formal and informal zones and realize that the two are dependent on each other just as the shadow economy depends on the formal economy and vice versa.
- Recent estimates suggest that the shadow economy, where illegal aliens must operate, drains as much as a trillion dollars from the U.S. mainstream economy.
Definition of shadow economy in:
- The US English dictionary