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What percentage of world trade is counterfeit?

What percentage of world trade is counterfeit?

3.3%
In the U.S., counterfeit goods cost the economy between $29 and $41 billion each year, according to a 2017 analysis by the Commission on the Theft of American Intellectual Property. International trade in counterfeit goods totaled an estimated $509 billion in 2016, accounting for 3.3% of all trade worldwide.

What percentage of goods are counterfeit?

In a test survey by the GAO of various items purchased online of major brands, all of which stated they were certified by Underwriters Laboratories, the GAO found that 43% were nonetheless fakes. The approximate cost to the U.S. from counterfeit sales was estimated to be as high $600 billion as of 2016.

What percentage of all imports is counterfeit?

Based on data for 2019, it estimates that the volume of international trade in counterfeit and pirated products amounted to as much as USD 464 billion in that year, or 2.5% of world trade.

How big is the counterfeit industry?

As of 2018, counterfeiting is the largest criminal enterprise in the world, with domestic and international sales of counterfeit and pirated goods totaling between an estimated $1.7 trillion and $4.5 trillion a year—a higher amount than either drugs or human trafficking.

How much is the counterfeit industry worth 2020?

The shadowy business of counterfeits has taken over the globe to become a more than $500 billion industry.

How common is counterfeiting?

According to the United States Department of Treasury, an estimated $70 million in counterfeit bills are in circulation, or approximately 1 note in counterfeits for every 10,000 in genuine currency, with an upper bound of $200 million counterfeit, or 1 counterfeit per 4,000 genuine notes.

How many products are counterfeit?

As many as 10% of all branded goods sold may be counterfeit. It is estimated that 80% of us have handled fake or falsified goods (whether wittingly or not).

What are the 9 most counterfeited products in America?

Top 9 Most Counterfeited Products in America

  1. Handbags and wallets: $700.2 million.
  2. Watches and jewelry: $502.8 million.
  3. Consumer electronics and parts: $145.9 million.
  4. Apparel and accessories: $116.2 million.
  5. Medicines and personal care: $79.6 million.
  6. Footwear: $54.9 million.
  7. Computer and accessories: $47.7 million.

What is the most counterfeited brand in the world?

Apple. Apple is the most counterfeited tech brand in the world and, like fake medications, bogus Apple goods are potentially fatal.

Which brand is most counterfeited?

Why is counterfeiting growing?

The growth of free trade zones: Another factor behind the growth of counterfeiting worldwide is the rise of free trade zones in different parts of the world. Free trade zones provide tax advantages and other exemptions which helps to boost the economy of the host country.

How big is the counterfeit market?

What is counterfeit market worth?

USD 464 billion
Based on data for 2019, it estimates that the volume of international trade in counterfeit and pirated products amounted to as much as USD 464 billion in that year, or 2.5% of world trade.

What country is the largest counterfeiter?

The highest number of counterfeit shipments being seized originates from East Asia, with China and Hong Kong (China) at the top of the ranking (see Figure 3.1). China and Hong-Kong (China) have been dominating global trade in counterfeit goods during the 2014-16 period and as well as during 2011-13.

What percent of $20 is counterfeit?

About 60 percent of that is in the U.S. The $20 bill is the most common counterfeit denomination in the states, while the $100 bill is the most common overseas.

What are the top five counterfeited product categories in America?

Hong Kong, Singapore, India and Taiwan rounded out the top five countries of origination for counterfeits seized by CBP….These are the most counterfeited products in America.

  1. Handbags/Wallets.
  2. Watches/Jewelry.
  3. Wearing Apparel/Accessories.
  4. Consumer Electronics/Parts.
  5. Footwear.

What products are commonly counterfeited?

Electronic goods are one of the most commonly encountered counterfeit products, and detection of pharmaceuticals has also been rising. The single most commonly counterfeited class of goods, how- ever, is apparel: clothing, accessories and shoes.