Latvia’s economy loses 20 million euros yearly to counterfeit alcoholic beverages

  • 2016-07-27
  • BNS/LETA/TBT Staff/Riga
Counterfeit alcoholic beverages are costing Latvia 20 million euros annually, which is about 9 per cent of legitimate sales of spirits and wine, a new report from the European Union Intellectual Property Office (EUIPO) indicates. European Union member states’ economies lose nearly 1.3 billion euros and 18,500 jobs each year because of the counterfeiting of alcoholic drinks, the Latvian Patent office relayed. Spain has posted the greatest loss, 263 million euros, and Latvia’s neighbour Estonia posted losses of 5 million euros. &...
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