Four per cent of UK imports are counterfeit, which is having a “significant” impact on the British economy, says a new report from the Organisation for Economic Co-operation and Development.
The results in the study – titled Trade in Counterfeit Products in the UK Economy: Fake Goods, Real Losses – refer to 2013, which is the most recent year that the latest data is available.
According to the report, imports of counterfeit goods imported to the UK accounted for as much as £9.3 billion in 2013, representing 4 per cent of UK imports, which is above the 2.5 per cent global average for the import of fake goods.
Electronic and electrical equipment, clothing and footwear were the most frequent counterfeit products smuggled into the UK, followed by toys and games, and leather goods, with China, Hong Kong and India the main sources of the bogus goods.
The OECD found that fakes made up at least 3 per cent of the total value of products with UK trademarks and patents that are traded worldwide, although toys, clothing and footwear exceeded 10 per cent