Mexico's underground economy supplies 22.7 percent of GDP
Staff Writer | December 19, 2018
Mexico's underground economy accounted for 22.7 percent of gross domestic product (GDP) in 2017, the National Statistics and Geography Institute (Inegi) said.
LatAm 57.1 percent of the work force was employed in the underground economy
Last year, 57.1 percent of the country's work force was employed in the underground economy, where workers pay no taxes but also have no protections or rights.
The remaining 42.9 percent of the work force employed in the formal sector accounted for 77.3 percent of GDP.
The informal sector's contribution to GDP set a record high of 24.4 percent in 2009.
Latin America's second-largest economy after Brazil, Mexico saw a 2.1-percent expansion in GDP in 2017.
This year's growth forecast puts it at 2.3 percent. ■
