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Ceturtdiena 20.06.2019 | Name days: Rasa, Rasma, Maira
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Europe loses EUR 60 billion to counterfeit products and piracy every year

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBecause of different fake products and piracy, Latvia loses up to EUR 109 million in 11 industries every year, whereas the damages in the European Union reach EUR 60 billion, according to estimates from European Union Intellectual Property Office (EUIPO).

According to data from EUIPO, the value of the volume of lost sales in Latvia is EUR 55 per citizen per annum.

This is the second report published by EUIPO on the effect of piracy and counterfeit goods on the main economic sectors unprotected from violations of intellectual rights. The study estimates that since the first analysis, which took place in 2018, the volume of lost sales in the European Union has dropped in all industries except two – clothes, footwear and accessories, as well as cosmetics and personal hygiene items.

Of all the industries surveyed by EUIPO, clothes, footwear and accessories industry is the largest sales and employment-wise. In Latvia, counterfeit goods cause loss of sales of clothes, footwear and accessories worth EUR 45 million a year or 11.5% of total sales, according to EUIPO estimates.

According to the report, the presence of counterfeit in the cosmetics and personal hygiene industry in the EU creates losses worth billions every year. This is equal to 10.6% of all sales in this industry in the EU and 9.7% in Latvia.

EUIPO Executive Director Christian Archambeau said in the statement to the press that Europe’s growth and creation of jobs relies heavily on the 11 surveyed industries. He stressed that the research performed by EUIPO shows that counterfeit goods and piracy threaten growth and jobs. «We perform such analysis and more expansive research to support policy-makers in resolving this problem and help EU consumers learn about the consequences of piracy and counterfeit goods on a wider scale,» says Archambeau.

EUIPO explains that estimates are included in the 2019 report on intellectual property right violations.

The report also includes the study on counterfeit goods and piracy in international trade. It also shows that industries protected by intellectual property rights contribute to economic growth and employment. The report also includes information from the latest research efforts that show how small and medium-sized companies that use intellectual property rights (trademarks, patents, etc.) have a higher probability of reaching high growth potential than other businesses.


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