HENT: counterfeit products threaten 80 million European jobs

IPR industries continue to be the backbone of the EU economy, as almost half of the total economic power comes from the region, however, due to various types of piracy and counterfeiting, nearly 50 billion euros a year, or 7.4 percent of the sales lost – the National Anti-Counterfeiting Body reports on the occasion of the World Intellectual Property Day.

The backbone of the EU economy continues to be the IPR industries: from a survey it turned out that around 40 percent (4700 billion euros) of the total economic output and 90 percent of exports to third countries come from here. In addition, the relevant sectors directly or indirectly provide approximately 35 percent of the European Union jobs, ie around 77 million jobs.