Report: EUR 1.64 bln lost each year in Romania due to counterfeiting in 13 key sectors

Romania loses EUR 1.64 billion every year due to counterfeiting in 13 key economic sectors, according to a report of the European Union Intellectual Property Office (EUIPO). The research reveals that, due to counterfeiting, the 13 sectors lose 22.5% of their direct sales annually in Romania, three times more than the EU average of 7.5%. The 13 sectors studied are cosmetics and personal care; clothing, footwear and accessories; sports goods; toys and games; jewellery and watches; handbags and luggage; recorded music; spirits and wine; pharmaceuticals; pesticides; smartphones; batteries; tyres. The top five sectors in Romania that reported sales losses to due fake products in the marketplace are the pharmaceutical industry - EUR 976 million (32.1%), clothing, footwear and accessories – EUR 161 million (13.6%), the smartphone market – EUR 128 million (19.1%), cosmetics & personal care – EUR 94 million (17.7%) and the spirits and wine sector – EUR 75 million (20%). At EU level, nearly EUR 60 billion is lost each year due to counterfeiting in the 13 economic sectors. The biggest losses were registered in the clothing, footwear and accessories sector – EUR 23.2 billion, pharmaceuticals – EUR 15.9 billion, cosmetics & personal care – EUR 5.8 billion, smartphones – EUR 4.2 billion, and spirits & wine – EUR 2.7 billion. The full report is available here. Irina Marica, irina.marica@romania-insider.com