Informal economy moves R $ 663 billion in 2010, 18,3% of GDP

By ETCO
19/07/2011

Valor Online - São Paulo / SP - BRAZIL - 28/06/2011

The Brazilian informal economy moved R $ 663 billion in 2010, equivalent to 18,3% of the GDP for the period, according to data from the underground economy index, released today by the Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre / FGV) and by the Brazilian Institute of Competitive Ethics (ETCO).

The result was slightly above the forecast made in November by the institutes, of R $ 656 billion, and confirms the trend of stabilization of the index, in the last three years, at around 18,5% of GDP, after lower growth than the Brazilian economy. between 2003 and 2008.

“It is possible to detect that, in parallel with the healthy progress of the Brazilian economy - which has been going through a process of institutional modernization and increased consumption of goods and services, thanks to the growth in income - the acquisition of products generated in the underground economy also unfortunately , grown at the same rate, ”said ETCO Chief Executive Roberto Abdenur in the study's disclosure document.