EUR 83 billion and 790 000 jobs lost every year across the EU due to counterfeiting and piracy
- 7.4 % of sales in nine sectors are lost due to the presence of fakes in the market.
- Footwear, clothes, toys, sports goods, jewellery, handbags and music among the sectors affected.
- Government revenue lost as a result of counterfeiting and piracy estimated at EUR 14.3 billion.
With the festive season approaching, millions of shoppers across the EU-28 are buying Christmas presents for family and friends.
But the negative economic effect of counterfeit and pirated goods lasts all year round.
A series of studies carried out by the European Union Intellectual Property Office (EUIPO) through the European Observatory on Infringements of Intellectual Property Rights, estimates that over EUR 48 billion — or 7.4 % of all sales — is lost every year in nine sectors, due to the presence of fake goods in the marketplace. Every year, an additional EUR 35 billion is also lost across the EU economy due to the indirect effects of counterfeiting and piracy in these sectors, as manufacturers buy fewer goods and services from suppliers, causing knock-on effects in other areas.
To read the full EUIPO press release, click here.