Istat, submerged down to 208 billion

In 2015 l 'unobserved economy (ie the so-called undeclared and illegal activities) is worth about 208 billion euros, equal to 12,6% of GDP. Istat communicates this in the note on the economy not observed in the national accounts in the period 2012-2015. The added value generated by the shadow economy amounts to just over 190 billion euros, that connected to illegal activities (including related activities) to around 17 billion euros. The incidence of the unobserved component of the economy on the GDP, which had recorded an increasing trend in the three-year period 2012-2014 (when it had gone from 12,7% to 13,1%), marked a sharp decrease in 2015, down by 0,5 percentage points compared to the previous year.