This study examines the 39-year period from 1970 through 2008. Utilizing accepted economic models, namely the World Bank Residual Method and IMF Direction of Trade Statistics, it is estimated that such flows have totaled $854 billion across the period examined. This estimate is regarded as conservative, since it addresses only one form of trade mispricing, does not include the mispricing of services, and does not encompass the proceeds of smuggling. Adjusting the $854 billion estimate to take into account some of the components of illicit flows not covered, it is not unreasonable to estimate total illicit outflows from the continent across the 39 years at some $1.8 trillion.
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