Romania loses EUR 403 million per year due to counterfeit trade

Romania loses EUR 403 million per year and 27,613 jobs due to counterfeit products, ranking third in Europe, according to a study by the European Union Intellectual Property Office, the former OHIM. Sales of counterfeit clothing, footwear and accessories in the European Union account for almost 10% of the total sales in these sectors in the EU. Legitimate businesses across Europe lose EUR 43.3 billion in sales and 518,000 jobs due to counterfeit products. Since counterfeit manufacturers and traders do not pay taxes, social contributions and VAT of over EUR 8 billion are not collected, according to OHIM. Cigarettes are the main smuggling product in Romania, followed by counterfeit goods such as clothing, footwear, cosmetics, electronics and home appliances. Two thirds of the Romanian respondents confirmed that they have come across counterfeit goods. editor@romania-insider.com