More Than Half Of Counterfeit Goods Go By Sea: OECD

More than half of the total value of counterfeit goods seized around the world are shipped by sea, according to a new report by the Organization for Economic Cooperation and Development (OECD).

Seaborne transport makes up more than 80% of the volume of merchandise traded between countries, and more than 70% of the total value of trade, said the report.

The report said container ships carried 56% of the total value of counterfeits seized in 2016, it said.

Between 2014 and 2016, 82% of the seized value of counterfeit perfumes and cosmetics by customs authorities worldwide, 81% of the value of fake footwear, and 73% of the value of customs seizures of fake foodstuff and toys and games were sea shipments.

Imports of counterfeit and pirated goods in 2016 totaled up to $509 billion or around 3.3% of global trade, the report said.

China was the biggest source economy for container shipments, accounting for 79% of the total value of maritime containers containing fakes seized worldwide.

Other top countries for counterfeit and pirated goods include India, Malaysia, Mexico, Singapore, and Thailand.

The report urged tailored and flexible governance solutions to boost risk-assessment and targeting methods against counterfeits. -