U.S firms most impacted by counterfeiting as per OECD report

Street markets and shops are flooded with the counterfeit handbags, football jerseys and scarves. Fake products have massively crept into industries like footwear, fashion and even luxury brands. As per an OECD report the overall value of fake and pirated products across borders in 2016 summed up to $509 billion or 3.3% of the world trade. That’s up from $461 billion (2.5% of the world trade) in 2013.

With a total share of 75%, China and Hong Kong are the biggest hubs of fake goods followed by Turkey, Singapore and Germany who together accounted for global seizures in 2016.

However, looking at the countries most impacted by duplication presents a diverse picture. Between 2014 and 2016, 24% of the total value of duplicate items confiscated by customs around the world were violating IP rights of companies based in the U.S with French, Italian and Swiss firms badly affected.

Surprisingly, the majority of counterfeit or pirated items seized by customs authorities are shipped as small parcels. Around 69% of customs m seizures between 2014 and 2016 were carried by postal or express courier services and 85% of intercepted shipments contained fewer than 10 items.

Source: manufacturing.net