Statistics Explained

Glossary:Non-observed economy (NOE)

Non-observed economy (NOE) refers to all productive activities that may not be captured in the basic data sources used for compiling national accounts. The following activities are included: underground, informal (including those undertaken by households for their own final use), illegal, and other activities omitted due to deficiencies in the basic data collection program. The term ‘non-observed economy’ encompasses all of these activities and the related statistical estimation problems.

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