Despite a global decrease in informal economic activity, shadow economies still make up a significant portion of GDP in parts of Africa and South Asia. A new data from the Ernst & Young Global Shadow Economy Report 2025 reveals that Sierra Leone, Niger, and Nepal top this list, measured as a percentage of their national GDP. The global shadow economy, which comprises unreported and untaxed activities, now accounts for 11.8% of worldwide GDP, down from 17.7% in 2000.