A news release from OECD on 29th November said that the global trade in fake goods, from cosmetics to car parts, is costing the UK economy billions of dollars a year in forgone company sales, overpriced products and tax revenues, and was behind more than 86,000 lost jobs in 2016, according to a new OECD report. A new report estimates the value of counterfeit and pirated British goods sold worldwide at £16.2 billion in 2016, up from £13.4 billion in 2013 and equivalent to 3.3% of UK manufacturing sales. UK goods particularly targeted by counterfeiters include perfumes, cosmetics, clothing, footwear, leather goods, telecoms equipment, electronic goods, cars and motorbikes. It is said that more than half of the counterfeit and pirated goods imported to the UK were bought by people who knew they were buying fakes, and that most fake imports to the UK come from China, Hong Kong, Turkey, India, Pakistan and Bangladesh.
The report is at –
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