NEW YORK, Jun 30, 2011 (BUSINESS WIRE) -- Philip Morris International Inc. (PMI) today announced results of a recent study showing that the illicit trade in contraband and counterfeit cigarettes in the European Union (EU) in 2010 reached its highest level since studies began in 2006.
The study, conducted by KPMG LLP (KPMG), estimates that annual consumption of illicit cigarettes increased by 3.1 billion units in 2010 versus 2009 to an annualized total of 64.2 billion units, equating to approximately 10% of total cigarette consumption in the EU. The loss to national and EU revenues due to cigarette smuggling is estimated by the European Anti-Fraud Office (OLAF) to be approximately 10 billion Euros per year.
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