Italy's unobserved economy worth 203 bn in 2019 - ISTAT

(ANSA) - ROME, OCT 18 - ISTAT said Friday that it estimates that Italy's unobserved economy - production activities that are illegal, underground or informal - was worth around 203 billion euros in 2019, 11.3% of GDP.
    The national statistics agency said this was a drop over over five billion euros with respect to 2018.
    The data shows that the downward trend for the unobserved economy has continued after it peaked at 13.1% of GDP in 2014.
    ISTAT said 3.586 million workers in Italy were employed off the books in 2019, a drop of 57,000 compared to the previous year.
    (ANSA).