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
Swiss Politics
Why cars still reign supreme in ‘rail-nation’ Switzerland
Uri voters clear path for hotel and marina complex in central Switzerland
This content was published on
Voters in canton Uri in central Switzerland have rejected a Green Party initiative aimed at regulating the development of the lakeside site in Isleten.
Valais voters reject plan to achieve carbon neutrality by 2040
This content was published on
Voters in canton Valais in southern Switzerland have turned down a proposal for the region to achieve carbon neutrality by 2040.
Swiss central banker wants to boost equity to head off risks
This content was published on
Equity levels at the Swiss National Bank (SNB) are much too low for the risks its large balance sheet poses, according to Martin Schlegel.
Beer sales in Switzerland watered down by bad weather
This content was published on
The past brewing year fell through in Switzerland, partly due to the bad weather. Beer sales shrank again. For the first time, per capita consumption fell below the 50 liter mark.
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.