Italy’s unobserved economy reached €218.2 billion in 2024 — ANSA English

According to the national statistics agency Istat, Italy’s unobserved economy, which mainly includes the underground economy and illegal activities, amounted to €218.2 billion in 2024. As reported by ANSA English, this was 0.3% higher than in 2023. The agency released these estimates on October 16.

Share of GDP declined

The share of the unobserved economy in Italy’s gross domestic product declined from 10.2% in 2023 to 9.9% in 2024. Therefore, its share of GDP decreased, although the overall estimate in euros rose slightly.

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Underground and illegal activities

Separately, Istat estimated the underground economy at €198.4 billion, €0.8 billion more than in the previous year. Illegal activities amounted to €19.8 billion. These components are the main elements of the unobserved economy, according to the statistics agency’s definition.