Euronews News2 hours agoBusiness1 min read

Counterfeit goods cost EU businesses €83 billion annually, with risks extending to safety and crime

Quick Look

Nearly 5% of goods entering the EU are counterfeit, costing businesses €83 billion yearly.
At Alicante port, OLAF and Spanish Customs inspect containers for fake products, including car parts, electronics, pharmaceuticals and food.
Officials warn counterfeit car components bypass safety tests and fund serious crimes like drug and human trafficking.

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Why It Matters

Counterfeit goods represent a significant portion of EU imports, with authorities estimating nearly 5% of entering goods are fake. The issue extends beyond luxury items to include critical sectors like automotive parts and pharmaceuticals, where safety risks are heightened.

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Nearly 5% of goods entering the EU are fake, costing businesses an estimated €83 billion annually.

At the port of Alicante, OLAF and Spanish Customs officers sift through shipping containers, hunting for counterfeit products hidden in plain sight among legitimate trade. Experts describe illicit trade as a sophisticated global business model, no longer limited to luxury items but now spanning car parts, electronics, pharmaceuticals and food.

Counterfeit car components pose particular risks, as they bypass safety testing entirely. Officials stress that buying fakes helps finance serious crimes, including drug and human trafficking, urging shoppers to think twice before chasing a bargain.

Open Questions

What specific measures are being considered to reduce counterfeit inflow beyond port inspections?
How are online marketplaces being addressed in the fight against counterfeit goods?
What is the year-on-year trend in counterfeit detection rates at EU ports?