According to a report from Washington based organisation, Global Financial Integrity, $1.3 trillion dollars (€1.15 trillion) escaped Russia illegally in the years from 1994 to 2012. 

The organisation said that this came to an average of $70.6 billion (€62.71 billion) every year over the time period, representing at average of 8.3% of the country’s GDP.

2011 was the largest year, where $174.2 billion (€154.8 billion) left the country, or 9.9% of GDP.

Interestingly, the report also stated that money transferred illegally into the country more than matched the amounts fleeing the country. The report stated that two trillion dollars was transferred illegally into the country from 1994 to 2012.

The majority of illegal capital flight from Russia in the time period was carried out by the creation of misleading trade invoices, which offers different values in exported goods. The money given in exchange for the goods is then accumulated in foreign bank accounts.

The report looked at other developing nations, such as Brazil, Mexico, the Philippines and India. It found huge amounts of capital have also left these countries illegally also over a variety of time periods. However, Russia’s statistics dwarfed that of the others analysed.