Imports of counterfeit and pirated goods are worth nearly half a trillion dollars a year, with more than 60 percent of them originating from China, a new report says.
The total value of imported fake goods worldwide was US$461 billion in 2013, compared to total imports in world trade of US$17.9 trillion, according to a report. Fake products accounted for around 2.5 percent of global imports in 2013, up from an estimated 1.9 percent in 2008.
63.2 percent of all fake products seized in the world between 2011 and 2013 were from China, far ahead of the next biggest producers, Turkey (3.3%), Singapore (1.9.%) and Thailand (1.6%).
Contributed By Sonia Narula