10 Biggest Illegal Industries and Black Markets in the World

If you have ever wondered how much do some criminals earn, these are the 10 biggest illegal industries and black markets in the world.

By definition, a black market is characterized by non-compliant behavior with an institutional set of rules or in this case, production and distribution of goods prohibited by law. Anyone who engages in the production and distribution of these goods is a member of the illegal economy such as prostitution, drug trade, etc. As usual, money makes the world go ’round, and so illegal businesses flourish as people rush to make money fast. Speaking of money, here are some of the best illegal hustles to make money fast.

Countless criminal enterprises earn billions of dollars buying and selling illicit goods on the black market. We can only assume the size and scope of such industries, but one thing is certain, they are extremely profitable. Believe it or not, buying and selling art is one of the biggest illegal industries in the world as well and so is human trafficking. In fact, human trafficking is the third largest criminal industry in the world which is a devastating fact. What’s worse, the industry continues to grow, and it doesn’t seem that it’s going to stop in the foreseeable future. Unfortunately, not enough is being done to put an end to this horrible illegal trade and modern slavery.

Whatever report you may read, the drug trade is listed as the largest criminal industry in the world. Much like human trafficking, drug trafficking also involves despicable violence and murders, the kind we wrote about in 6 Facts About Tijuana Drug Cartel Violence: Kidnappings and Killings.

It’s impossible to be precise when you have to rely on estimations, but some rough numbers can be obtained. This is important to bear in mind when reading our list as well as any other. When trying to come by on numbers this illegal business generates, researchers rely on the quantity of drug seized and combine it with the price of that drug in the market where they think it was heading. Even though it is impossible to determine the exact numbers, it is pretty easy to conclude that it is the most profitable illicit industry which generates hundreds of billions every year.

With the help of The Economist and Forbes, we compiled a list of biggest illegal industries and black markets, and we ranked them according to the amount of money they generate annually. We present to you 10 biggest illegal industries and black markets in the world.

10. Organ Trafficking

We are starting off with the organ trafficking which probably tops the illegal business list in India because people living in extreme poverty in countries like this one, can be convinced to sell their organs for a fraction of the “actual price”, while someone earns huge amounts of money by then selling these organs to rich people everywhere. The thriving black market for organs generates about $1 billion annually and organs, especially kidneys, are often sold to people in the USA and Australia.

9. Illicit Gold Trade

Due to regulations required for importing gold, the black market for gold has flourished and continued to grow. Right now, it generates more than $2 billion per year, and it doesn’t seem like this market is going anywhere. The Philippines, for example, are rich in minerals and a huge part of their gold finds its way to China where gold is in high demand. According to Business Insider, small-scale mining is pushed to the black market worldwide.

8. Illicit Art Trade

Buying and selling art ranks 8th on our list of biggest illegal industries and black markets in the world. It is extremely profitable. Collectors are in need of art pieces, and shady people are in need of money, so they steal priceless paintings and other forms of art and sell them to rich collectors who are ready to pay a high price possessing something that worthy. The industry generates about $6 billion annually.

7. Wildlife Trafficking

Unfortunately, wildlife trafficking is a very profitable industry. Whether the purposes is obtaining fur or possessing exotic pets etc., wildlife animals are trafficked every day. Animals like tigers or rhinos are part of this black market and parts like skin and horns are used for various purposes. Wildlife trafficking generates more than $10 billion every year.

6. Illicit Fish Market

Illicit fish trade includes selling unreported and unregulated fish stock. We cannot be certain if the fish we eat is caught legally or illegally as the industry is big and very profitable. The industry generates more than $11 billion per year.

5. Oil Trade

One of the largest illicit industries, oil trade, continues to grow. Oil is either sold illegally for profit or to finance an armed rebellion. Whatever the reason may be, the industry is very profitable, and oil usually comes from Saudi Arabia, Iraq, and Iran. The industry generates about $11 billion annually.

4. Cigarette Smuggling

According to Forbes, about $600 billion cigarettes are smuggled worldwide every year which makes this black market one of the biggest. Cigarette trade is a $30 billion industry which means it is among the top most profitable illicit industries. Cigarettes are a legal product, but due to high taxations, the black market for cigarettes is booming.

3. Human Trafficking

Human trafficking ranks third on our list of biggest illegal industries and black markets in the world. It is a huge problem considering that there were 35.8 million slaves in the world in 2014. That means that one in every 200 people was a victim, according to Sabre. Sadly, people are usually unaware of how big this issue is. The third most profitable industry was worth about $32 billion last year which makes it one of the most profitable criminal activities.

2. Counterfeit and Pirated Goods

Selling counterfeit goods is an extremely profitable industry that generates slightly less money than drug trade and the numbers reach $250 billion annually. This market attracts consumers who don’t want to pay the full price for a luxury product, and counterfeit goods are mainly produced in China, Taiwan, India, and several other countries.

1. Drug Trafficking

Drug trafficking continues to be at the very top of the biggest illegal industries and black markets in the world. This extremely profitable illicit industry is worth $320 billion, which puts it right at the first place of our list. Will we ever put an end to this illegal industry, it is questionable.