Counterfeit Goods Costing the Economy 1.3 Bln Euro

Counterfeit Goods Costing the Economy 1.3 Bln Euro

Greece's economy is missing out on 1.3 billion euro in revenues as a result of fake and counterfeited goods traded in the market, according to a report prepared by the European Union Intellectual Property Office (EUIPO).
This represents a loss 125 euro for each resident and 12.3 percent of sales for companies in areas that are exposed to violations of intellectual property, such as pharmaceuticals, clothing and cosmetics.
At a European level, these losses reach 60 billion euro.
As a result of the counterfeited goods, Greece is also missing out on 15,356 job positions, the report added, while across Europe this number reaches 434,000 job positions.

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