PARIS — Counterfeited and pirated goods accounted for up to 2.5 percent of world trade, or as much as $461 billion, significantly damaging companies and state funds, said the Organisation for Economic Cooperation and Development (OECD) on Monday.
The trade in counterfeited and pirated products such as Louis Vuitton bags has increased in the past ten years, with a previous OECD study in 2008 estimating it at up to 1.9 percent of world imports, or $200 billion.
The effects of counterfeiting are greater for rich countries — where most of the companies making the highly desirable branded goods are based — with the European Union importing up to 5 percent of fakes in 2013, or as much as $116 billion.
The Paris-based think-tank said China represented the largest producer of counterfeited products, but that the intellectual property rights of Chinese companies had also been routinely infringed.
The OECD cited the booming e-commerce, post-financial crisis revival in trade, and emergence of globalized value chains, as reasons for the rise in pirated goods trade since 2008.