The GDP-per-capita ranking in Swissleaks

While looking at the data made available by the International Consortium of Investigative Journalism on the leaked swiss accounts, I had the intuition that among rich countries, scandinavian ones, particularly Finland, seem to come late in the ICJI ranking.

I thought about ranking the countries not by the amount of money found at HSBC, but by how much the amount represents in the national GDP-per-capita.

In other words: how many average worker -working for a full year- does it take to produce the same amount of money ?

It turns out that the intuition about Finland was right, if you take the countries with less more than 50 accounts (an arbitrary cut-off to keep countries with enough fraud for the averages to be meaningful), Finland comes as the most honest country: the money put at those leaked accounts represents the yearly production of only 500 Finish workers, while for Venezuela or India, it takes almost One Million average Venezuelan or Indian working a whole year to produce the equivalent amount of money. Countries like United Kingdom or France also show a very high ratio, closer to Venezuela than to Finland. Note also that in the case of France, 98% of the accounts were not properly declared to the authorities.

The Map* below illustrates this ratio between fraud and gdp-per-capita. Black is for maximum values, red for middle-high values then white is for low values, the map is a bit slow to appear. Full ranking is giving in the table**.

*from google maps **GDP values were taken from the World bank data, for some countries values are estimation for 2014 based on previous years. The host country was removed from the competition 🙂

Country How many workers-a-year does it take to fill the leaked accounts?
Venezuela 802037.6091
India 752293.578
United Kingdom 579982.3243
Brazil 467071.4619
Liberia 324577.2266
Egypt 321987.1205
France 313967.7995
Israel 305651.4962
Bahamas, The 283998.7017
Lebanon 277040.2863
Congo, Dem. Rep. 274503.8168
United States 252825.4184
Italy 219922.001
Morocco 217509.516
Pakistan 187953.6511
Kenya 186041.8744
Turkey 185440.2882
South Africa 159910.4501
Argentina 156508.5185
Belgium 154563.2974
Panama 146750.5241
Uruguay 142283.6526
Zimbabwe 139303.9918
Mexico 126509.4882
Saudi Arabia 112014.5233
Greece 103478.4685
Germany 101207.5906
Netherlands 99052.54091
Cayman Islands 98173.51598
Iran 92793.07145
Canada 90167.15604
Senegal 84083.81632
Ireland 78364.64187
Romania 74541.2844
Russia 74080.17121
Jordan 72411.71922
Spain 72005.50999
Mali 71265.90757
Côte d’Ivoire 70295.20295
Tanzania 62159.21483
United Arab Emirates 55396.40082
Uganda 53123.14099
Tunisia 50390.98018
Yemen 50364.77332
Algeria 48672.75892
Nigeria 46397.49391
China 43562.52107
Portugal 37788.09032
Syria 37407.91897
Poland 37193.31414
Iraq 35839.07566
Jersey 35087.7193
Ukraine 34389.08797
Hong Kong 33972.52001
Luxembourg 32103.4395
Sudan 29577.7828
Philippines 29392.14795
Liechtenstein 29082.77405
Austria 27025.80965
Libya 25284.07717
Monaco 23391.81287
Bulgaria 23053.63846
Sweden 23037.75889
Cyprus 22505.91345
Malta 22488.30438
Colombia 21634.31434
Seychelles 21519.63284
Australia 21250.3877
Chile 20746.42762
Kazakhstan 18894.86935
Denmark 17116.99164
Kuwait 15540.01554
Indonesia 13918.00727
Zambia 12302.59806
Peru 12217.70356
Bermuda 11480.32268
Japan 11455.77563
El Salvador 11332.39111
Singapore 9623.930322
Mauritius 8236.943568
Malaysia 7525.906736
Norway 7109.674813
Oman 6927.766488
Gibraltar 6406.976744
Sri Lanka 6083.689867
Isle of Man 5905.204461
Paraguay 5704.365079
Hungary 5271.991737
New Zealand 4508.416107
Guatemala 4320.987654
Thailand 4053.480475
Bahrain 3951.000343
Czech Republic 3824.91681
Qatar 2248.207603
Taiwan 2132.935314
Slovakia 1829.72648
Finland 571.8566613