OECD SAYS 2.5% OF WORLD TRADE CONSISTS OF BUYING AND SELLING FAKE PRODUCTS
April 1st, 2016
THE GLOBAL trade in counterfeit and pirated goods could be so large, it might account for 2.5% of imports and exports worldwide, a report from the Organisation for Economic Cooperation & Development (OECD) and the European Union (EU) has claimed. Released today, (April 18) ‘Trade in Counterfeit and Pirated Goods: Mapping the Economic Impact’ has valued imported fake goods worldwide at USD461 billion in 2013, compared with total global imports of USD17.9 trillion. With key research undertaken by the EU’s Intellectual Property Office, the report concluded ...
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