Malaysia’s prominence as a hub for counterfeit products has severe consequences for its economy, businesses, and consumer behavior, said economist Prof Niaz Asadullah. Global counterfeiting losses exceed US$2.3 trillion annually.
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Malaysia’s Counterfeit Market Threatens Economy and Businesses
Malaysia’s strategic trade position makes it highly vulnerable, risking billions in revenue and taxes. The Domestic Trade Ministry seized RM14.9 million in counterfeit goods in 2023, and disposed of over RM2.1 million in Johor alone.
Counterfeit luxury items are popular among younger tourists, undermining legitimate businesses. The growing counterfeit market stifles innovation and poses public health risks.
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