Bulgaria's Loss of Goods' Counterfeiting is Over BGN 800 Million Per Year

Business » FINANCE | June 6, 2019, Thursday // 14:51| Views: | Comments: 0
Bulgaria: Bulgaria's Loss of Goods' Counterfeiting  is Over BGN 800 Million Per Year

Annual losses from counterfeiting and piracy of goods in 11 major economic sectors in Bulgaria amounted to BGN 809 million. This shows a report by the European Union Office for Intellectual Property, distributed to the media.

The sectors studied are: cosmetics and personal hygiene; clothing, footwear and accessories; Sport goods; toys and games; jewelery and watches; handbags and luggage; music recordings; spirits and wines; pharmaceutical products; pesticides; smartphones.

According to the analysis, the losses of 809 million leva represent 15.5% of the sales in Bulgaria in the 11 sectors. The total value of unrealized sales in the country is BGN 113 per Bulgarian citizen per year. Losses in the European Union reach 117 billion leva each year.

The five sectors with the most unsuccessful sales in Bulgaria are pharmaceuticals (302 million leva), clothing and footwear (199 million leva), spirits and wines (113 million leva), cosmetics (108 million leva) and pesticides (BGN 26 million). Total lost jobs amount to nearly 18,000.

This is the second sectoral assessment of the economic impact of counterfeiting and piracy in key economic sectors known to be vulnerable to infringements of intellectual property rights published by the IP Office.

The survey estimates that since the first analysis in 2018, unrealized sales have decreased in all EU-surveyed sectors, except for two - apparel, footwear and accessories, and cosmetics and personal hygiene.

Finance » Be a reporter: Write and send your article
Tags: survey, sectors, money, counterfeit losses
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria