International Chamber of Commerce, “Estimating the Global Economic and Social Impacts of Counterfeiting and Piracy” (2011)
A report commissioned by the International Chamber of Commerce estimates that, based on 2008 data compiled by the Organisation for Economic Co-operation and Development (OECD), the total global economic value of counterfeit and pirated products is as much as $650 billion every year. Moreover, the extent of the problem is expected to grow, in large part as a result of the growth of the Internet. Based on existing estimates, the report also projects that the global value of counterfeit and pirated products could amount to $1.7 trillion by 2015. Previous studies have indicated that if counterfeiting and piracy could be eradicated or seriously reduced, up to 2.5-million jobs could be created in the legitimate economies of the G20.