35 billion euros, this is the estimated total value of fake Italian goods sold worldwide for 2013. According to a report by the Organization for Economic Co-operation and Development, Italy’s economic value has been impacted by the trade of fake Italian goods. In fact, the commerce of counterfeit luxury products such as handbags, watches, foodstuff and car parts has resulted in an approximate loss in sales of 25 billion euro.
The report shows that in 2013, fake imports were worth over 10 billion euros, the equivalent of 3 per cent of the imports and 0.6 per cent of Italian GDP. Over half of the counterfeit items were imported from China, while the rest were sourced from Hong Kong (29%), Greece (6%), Singapore (4%) and Turkey (2%).
Furthermore, the commerce of fake goods and piracy resulted in the loss of more than 87,000 jobs in the country. While high-tech electronic had the sales highest loss in the Italian wholesale and retail sectors, clothing, footwear and leather goods came next on the list of most counterfeit products.
Counterfeit Italian goods resulting in lost sales.
