Counterfeiting accounts for over $1.2 trillion in economic transactions annually. That’s a big number. In fact, the ICC estimates that the value of counterfeit goods is worth more than 5% of world trade. Here’s a fascinating look into the economics and business of global counterfeiting.
Infographic by Camcode
Some amazing facts about Counterfeiting:
- The US Government removes over $200 million per year in counterfeit cash
- Most counterfeit money in the United States is introduced by Meth and Marijuana dealers
- About 3,000 counterfeit driver’s licenses are confiscated each year by US customs at a single airport (O’Hare)
- Some 520,000 counterfeit parts make their way into airplanes and helicopters each year
- $7.5 billion is lost by US Semiconductor companies annually due to counterfeiting, resulting in 11,000 jobs lost
- Counterfeited products have made their way into the US Navy and other military institutions
That’s a fantastic infographic. Unfortunately,it is a bit scary too. The value of the fake goods is the same as the GDP of France…