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Informal and illegal activities in Brazil generate US$232 billion, equal to Peru’s GDP – IES survey

RIO DE JANEIRO, BRAZIL - A survey carried out by FGV includes activities such as street vendors and the self-employed, as well as mechanisms such as tax evasion, piracy, and smuggling.

The informal economy has already moved R$ 1.3 trillion (US$232 billion) this year, equivalent to 16.8% of the Brazilian GDP. The amount is also similar to the entire GDP of countries like Peru or New Zealand.

This is what the Underground Economy Index (IES), prepared by the Brazilian Institute of Ethics in . . .

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