Canada’s underground economy surged to $68.5 billion in 2021: StatCan ...Middle East

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Canada’s underground economy was estimated to be $68.5 billion in 2021, representing 2.7 per cent of the total GDP, according to a report from Statistics Canada. The report shows that in 2021, the underground economy experienced significant growth of 4.8 per cent in real terms, primarily driven by an 18 per cent surge in underground economic activity related to investments in residential structures. In contrast, the underground economy experienced a 4.5 per cent decline in 2020, mainly due to reduced underground economic activity in household final consumption expenditure, which dropped by 8.4 per cent. The underground economy is defined as consisting of market-based economic a

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