From the Dow Jones wire:

 Italy’s counterfeit goods market that sells everything from knock-off designer sunglasses to contraband DVDs generated about EUR7.2 billion in sales in 2006, national retailers’ association Confcommercio said Wednesday on its Web site.

Based on today’s exchange rate, that figures comes out to $10.25 Billion.

Out of the total market figure, 3.3 Billion Euros ($4.6 Billion) were spent on counterfeit clothes and accessories.

Based on these figures, we have updated our Italy Counterfeit Market and the Counterfeit Clothing Market figures.