Spanish economy counting the losses to piracy.

A report released today by the EU Intellectual Property Office (EUIPO) show that the annual losses to the Spanish economy are around 6.7 billion euros equivalent to 10.6 percent of total sales in the country.

This figure forms part of a large picture across Europe that estimates the total loss to counterfeit items being 60 billion euros, according to the EuroAgencia based in Alicante.

Items that are most found being sold illegally are clothing, footwear, toys and games, jewellery, personal items, music, pharmaceuticals and technology.

The most popular item is clothing and footwear which annually accounts for 3.8 billion euros in losses to the market. Second is pharmaceutical which equates to 810 million euros.