Trade in counterfeit goods worsens: OECD

Counterfeited and pirated goods accounted for up to 2.5 per cent of world trade, or as much as $US461 billion ($A603 billion), significantly damaging companies and state coffers, the Organisation for Economic Co-operation and Development (OECD) says.

The trade in fake products such as Louis Vuitton bags or Nike shoes has also worsened in the past decade, with a previous OECD study in 2008 estimating it at up to 1.9 per cent of world imports or $US200 billion.

– See more at: http://www.skynews.com.au/business/business/world/2016/04/19/trade-in-counterfeit-goods-worsens–oecd.html#sthash.9SZgKEBH.s9i1onwX.dpuf