60 Billion Euros Piracy Losses in the EU

Annual losses due to piracy and counterfeiting in 11 key sectors of the EU economy amounts to €60 billion per year. The analysis presents general losses at the level of 7.4% of total sales in the following sectors: smartphones, toys and games, clothing, footwear and accessories, sporting goods, cosmetics and personal hygiene, jewelry and watches, recorded music, spirits and wine, pharmaceuticals, pesticides, purses and luggage.

For this reason, legal producers make less money than if there were no counterfeit present. The result is a need for fewer employees and therefore loss of jobs. It is estimated that 436,000 jobs has been lost in these sectors in the EU due to counterfeiting and piracy.

In Britain, annual losses due to counterfeiting and piracy are estimated at £ 5.98 billion, equivalent to 6.7% of sales in 11 sectors. The total value of lost sales in the United Kingdom is equivalent to £92 per citizen of the United Kingdom per year. (ns)

Source: https://advanced-television.com/2019/06/06/report-e60bn-eu-piracy-losses/