Illicit trade costs SA 10% of GDP, report says

SA loses an estimated 10% of its GDP due to illegal trade with major loses recorded in alcohol, tobacco, pharmaceuticals and counterfeit consumer goods, according to a new report by Transnational Alliance to Combat Illicit Trade (Tracit), with Business Unity SA (Busa).

Counterfeit pharmaceuticals and consumer goods are prevalent, flooding informal markets and undermining legitimate businesses, the report notes. ..

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