A report released by OECD and the EU’s Intellectual Property Office confirmed that counterfeit and pirated goods in trade reached 3.3 percent this year. With the majority of the counterfeit goods being picked up in China and Hong Kong, the spotlight is focused on concerns surrounding consumer health and safety with fake goods such as medical supplies, car parts, toys, food and cosmetics brands and electrical goods.
Excluding domestic produced and consumed fake goods, the customs data seizure reports state the overall value of global fake goods at $509 billion, with the European Union representing 6.8 percent of counterfeit trade from non EU countries. Items such as footwear, clothing, leather goods, electrical equipment, watches, medical equipment, perfumes, toys, jewelry and pharmaceuticals were the top goods that made the list.
“Counterfeit trade takes away revenues from firms and governments and feeds other criminal activities. It can also jeopardize consumers’ health and safety,” said OECD Public Governance Director Marcos Bonturi, launching the report with the Director of the EU Observatory on IPR infringements at the EUIPO, Paul Maier, and the EU Ambassador to the OECD Rupert Schlegelmilch. “Counterfeiters thrive where there is poor governance. It is vital that we do more to protect intellectual property and address corruption.”
Other countries impacted the most in 2016 include the United States, France, Italy, Switzerland, and Germany.
To read the full report, please visit: OECD.org