Global Financial Integrity
$1.6 trillion in potential trade misinvoicing found in 134 developing countries in 2018: GFI
An estimated $1.6 trillion in potential trade misinvoicing among 134 developing countries, including Bangladesh, and all of their global trading partners took place in 2018, according to a report.
Trade-related illicit financial flows between developing countries and 36 advanced economies stood at $835 billion during this time.
Washington-based think tank Global Financial Integrity (GFI) report "Trade-Related Illicit Financial Flows in 134 Developing Countries 2009-2018," published Thursday, shows trade misinvoicing is a persistent problem across developing nations, resulting in potentially massive revenue losses and facilitating illicit financial flows across international borders.
The developing countries with the largest value gaps identified in trade with 36 advanced economies in 2018 are China ($305.0 billion), Poland ($62.3 billion), India ($38.9 billion), Russia ($32.6 billion) and Malaysia ($30.7 billion).
The developing countries with the largest value gaps identified in trade with 36 advanced economies in 2018 as a per cent of total trade are The Gambia (45.0 per cent), Malawi (36.6 per cent), Suriname (31.9 per cent), Kyrgyzstan (30.6 per cent) and Belize (29.2 per cent).
2 years ago