Definition(s) All economic activities by workers and economic units that are – in law or in practice – not covered or insufficiently covered by formal arrangements. Source(s) Para. 3 of ILO Resolution concerning Decent Work and the Informal Economy, 2002 Translations BG: неформална икономика CS: šedá ekonomika DE: informelle Wirtschaft / Schattenwirtschaft EL: παραοικονομία EN: informal economy ES: economía informal ET: varimajandus FI: epävirallinen talous / pimeä talous FR: économie informelle GA: geilleagar neamhfhoirmiúil HU: szürke gazdaság IT: economia informale LT: šešėlinė ekonomika LV: neformālā ekonomika MT: Ekonomija informali NL: informele economie PL: gospodarka nierejestrowana PT: economia informal RO: economie informală SK: tieňová ekonomika / šedá ekonomika SL: neformalno gospodarstvo / siva ekonomija SV: informell ekonomi NO: uformell økonomi / parallell økonomi KA: არაფორმალური ეკონომიკა UK: тіньова економіка Synonym(s) black market clandestine employment Related Term(s) informal employment informal sector Note(s) 1. Activities within the informal economy are not covered by law, which means that they are operating outside of the formal reach of relevant legislation; or they are not covered in practice, which means that, although they are operating within the formal reach of the law, the law is not applied or not enforced, or the law discourages compliance because it is inappropriate, burdensome or imposes excessive costs. 2. This applies to third-country nationals , too.
