Fake product imports account for 2.5 pc of global trade: OECD

Global import of counterfeit and pirated goods are worth 461 billion dollars or 2.5 per cent of total global trade, and 63 per cent of these products originated from China. According to a new report by the OECD and the EU’s Intellectual Property Office titled “Trade in Counterfeit and Pirated Goods: Mapping the Economic Impact” the value of imported fake goods worldwide was 461 billion dollars in 2013, compared with total imports in world trade of 17.9 trillion dollars. Up to five per cent of goods imported into the European Union are fakes while most of it originate in middle income or emerging countries.
 

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