Taxation: Istat estimates the unobserved economy at 218 billion in 2024, accounting for 9.9 per cent of GDP

Rome, 16 Oct. (LaPresse) – In 2024, the value of the unobserved economy stood at 218.2 billion, up 0.3 per cent on 2023, compared with a 3.2 per cent increase in nominal GDP. Its share of GDP falls to 9.9 per cent from 10.2 per cent the previous year, a reduction of 0.3 percentage points. This is according to Istat. The underground economy (i.e. excluding illegal activities) stands at 198.4 billion (+0.8 billion compared with the previous year), whilst the value of illegal activities falls to 19.8 billion. The number of irregular workers is approximately 3,277,000, an increase of over 145,000 compared with 2023.