International trade losses due to product counterfeiting and piracy are much lower than estimated by business lobby groups, according to the most detailed global study to date.
Trade losses in 2005 were "up to $200bn" (€147bn, £100bn), according to the executive summary of a report by the Organisation for Economic Co-operation and Development, obtained by the Financial Times.
This compares with the business estimates for international trade losses that range upwards from $600bn.
The report, due for endorsement by the OECD board later this month, could prove embarrassing for international business lobbies, which have used the higher estimates to lift intellectual property rights up the global political agenda and to demand crackdowns in China and elsewhere.
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