Bittersweet year for Swiss chocolate owing to strong Swiss Franc

The Swiss chocolate industry saw a 2.2 % reduction in sales in terms of quantity and a 3.4 % drop in turnover compared with the previous year. Whilst the drop in turnover can be attributed fully to the export business, in terms of quantity there were fewer products sold both on the domestic market and abroad. The principal reason for this is the overvalued Swiss Franc which made Swiss chocolate products more expensive abroad and made imported chocolate cheaper. In 2012, Switzerland’s 18 chocolate manufacturers were unable to sustain the result from 2011 in terms of either quantity or value. With a sales volume that decreased by around 4,000 to 172,376 tonnes (- 2.2 %), turnover across the industry dropped by 3.4 % to CHF 1,632 million. The decrease in turnover in the export business can be attributed largely to the strength of the Swiss Franc. On the domestic market, the total turnover in terms of value was maintained, in spite of the somewhat subdued mood among consumers. Of total production, 60.3 % (previous year: 60.7 %) was sold abroad. In Switzerland, the continuing lack of consumer confidence has had a negative impact (1,2% drop in sales) on the demand for Swiss chocolate products in 2012. Unfortunately, in 2012 on the export markets, the Swiss chocolate industry was unable to maintain the increased volume achieved in 2011. Foreign sales reached 103,897 tonnes, representing a decrease of 2.9 %. Simultaneously, the turnover in value terms fell by a disproportionate 7.3 % to CHF 760 million as a result of the continuing strength of the Swiss Franc and the slowdown in the world economy.