Counterfeit and Pirated Goods Make Third of Hungary’s Black Market

Dec 21 2010 - 14:22

According to Miklos Bendzsel, chief of the Hungarian Patent Office, pirated and counterfeit goods are valued at EUR 2-3 billion (USD 2.7-4 billion) a year and make approximately one-third of Hungary’s black market, valued at approximately EUR 10 billion (USD 13 billion), worth 10 to 15 percent of Hungary’s gross domestic product each year.

Recent surveys show that approximately 25 percent of Hungarians would buy fake perfume, 22 percent would download pirated software, music or movies from the Internet, while only 2 percent would buy counterfeit food.

For more information, please contact Masa Lopicic at our Balkan Regional Office.

Source: Hungary’s business daily, Realdeal.hu

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