The negative economic effect of counterfeit and pirated goods across the EU News

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Although the negative economic effect of fake and pirated goods lasts all year around, reflecting on counterfeiting and its negative consequences becomes crucial with the festive season approaching, when millions of shoppers across the EU-28 are buying Christmas presents for family and friends.

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.

The nine affected sectors are: cosmetics and personal care; clothing, footwear and accessories; sports goods; toys and games; jewellery and watches; handbags; recorded music; spirits and wine; and pharmaceuticals.

Further information is available here.