OECD reports US$464 billion in world trade of counterfeits

Worldwide
Published:  29 June, 2021

The Organisation for Economic Co-operation and Development (OECD), an intergovernmental economic organisation with 38 member countries, has released “Global Trade in Fakes: A Worrying Trend”, a report which quantifies the magnitude, value, scope and trends of global trade in counterfeit and pirated goods, also known as fakes. The report was published June 22 and estimates that the volume of international trade in counterfeit and pirated products amounted to as much as US$464 billion in 2019, or 2.5% of world trade.

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