Fake goods cost Switzerland CHF4.5 billion in a single year
The global trade in counterfeit “Made in Switzerland” goods cheated the Swiss economy out of 10,000 jobs and CHF4.5 billion ($4.9 billion) in one year alone, says an Organisation for Economic Co-operation and Development (OECD) study.
“In 2018, customers across the world paid over CHF2 billion for counterfeit ‘Swiss’ products – believing they were buying an original,” stated theExternal link Swiss Federal Institute of Intellectual Property (IPI), which commissioned the OECD study.
Had those goods been made in Switzerland they would have sold for a higher value. Half of the people buying fake goods were duped into believing they were purchasing the real thing, the OECD estimates.
The Swiss watch and jewellery sectors were hit the hardest, losing out on an estimated CHF2 billion in 2018 and four out of 10 jobs that would have been created had the fraud not existed. But other affected sectors included machinery, electrical engineering, clothing and shoes.
The vast majority of fakes that were passed off as Swiss originated in China and Hong Kong, followed by Singapore and Turkey. India is also blamed for counterfeiting of medicinal products.
Switzerland has long waged a global campaign against counterfeit rip-offs, including the STOP PIRACYExternal link online platform.
According to IPI, the study “provides a solid basis for decision-making – together with policy – to disrupt the underhanded practice of counterfeiters in a more targeted manner. To this end, in future, the IPI will advocate even more intensively for minimum standards for the enforcement of intellectual property rights in free trade agreements.”
Popular Stories
More
Foreign affairs
Go to war or stay put? Ukrainian men in Switzerland face fresh dilemmas
Is reforming the Swiss pension system still possible, and if so, how?
Solutions still need to be found to meet the challenge of an ageing population and to improve the pensions of low-paid workers, the majority of whom are women.
New European space tech centre in Switzerland launches its first project
This content was published on
The European Space Deep-Tech Innovation Centre (ESDI), launched in collaboration with the Paul Scherrer Institute (PSI), is to be located in the immediate vicinity of the PSI in northern Switzerland.
Swiss Federal Railways launches campaign for safety on public transport
This content was published on
The Swiss Federal Railways is launching a campaign for greater respect and safety on public transport, with posters to go up in stations and on trains starting next week.
Swiss scientists to use AI for improved weather and climate forecasts
This content was published on
MeteoSwiss and the Swiss Data Science Center have signed a four-year agreement to make greater use of AI in meteorology and climatology going forward.
This content was published on
Prices of owner-occupied homes rose in the third quarter of 2024 by 0.5%, with inflation affecting both apartments and single-family houses, says the Federal Statistical Office.
This content was published on
The honey harvest is projected to be lower than usual this year, as Swiss beekeepers report harvesting an average of just 16kg of honey per bee colony.
More young refugees in Switzerland following vocational training
This content was published on
More than half of young refugees and temporarily admitted persons between the ages of 16 and 25 are now in training. This is significantly more than five years ago.
One in five Swiss children suffers psychological abuse at home
This content was published on
In Switzerland, one in five children suffers psychological violence, and one in three has witnessed psychological violence between parents, says the association Kinderschutz Schweiz.
Swiss government minister breaks silence over Trump remarks controversy
This content was published on
Transport Minister Albert Rösti explained himself in a television interview on Sunday evening, after being called out for expressing support for Donald Trump.
Swiss Covid expert calls for caution on vaccination recommendations
This content was published on
The head of the vaccination commission would be “even more cautious today” when it comes to Covid-19 vaccination recommendations.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss crack down on fake watches from China
This content was published on
If you look at it very, very closely, you can detect a few irregularities: a screw slot with a microscopic fault in it, a piece of the carbon casing replaced by plastic, or the absence of anti-glare glass. But apart from these details, which even experts have trouble detecting at a glance, the fake Hublot…
This content was published on
Speaking to Swiss public broadcaster SRF, deputy director of the Swiss Federal Institute of Intellectual PropertyExternal link Felix Addor, said judges in rural areas of China are sometimes loathe to issue unpopular verdicts against local companies. “The involvement of a major Chinese employer can have an inhibiting effect,” Addor told SRFExternal link. “For political reasons,…
This content was published on
The campaign, involving more than 20 countries, resulted in a series of arrests and the seizure of thousands of potentially harmful medical products, according to Interpol. “The problem of supply of counterfeit and illegal medicines is a global problem and everywhere around the world this is a growing trend,” Ruth Mosimann, head of the Control…
This content was published on
This represents almost eight per cent of the total value of Swiss watchmaking exports, worth SFr10.18 billion in 2003. The Federation of the Swiss Watch Industry – the branch’s umbrella organisation – has complained in its annual report that the situation has reached a “worrying level”. “I would not say that the situation is getting…
This content was published on
A study published on Wednesday in Bern shows that Switzerland is one of the countries worst affected by fake goods in Europe. According to the report, which was carried out by the European Brands Association (EBA), 21 counterfeit products appeared on the Swiss market between 2000 and 2001. In all, 470 examples of counterfeit goods…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.