The Swiss chocolate industry saw its sales slide by 3% in 2011, as retail “price wars” hit domestic sales and the Swiss franc weighed on export revenues.
Total revenues in the 12-month period dropped 3.1% to CHF1.69bn (US$1.85bn), Swiss trade group Chocosuisse said on Friday (10 February). A total of 176,332 tonnes of chocolate products were sold in 2011, according to the industry association.
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Chocosuisse put the fall in sales down to a strong Swiss franc, retail price wars and poor consumer sentiment.
Foreign sales increased 0.4% to 107,051 tonnes. However, in value terms, revenues fell 2.9% to CHF820m as a result of the strong Swiss franc and the slowing economy in Europe.
The top export markets in the EU in 2011 were Germany, the UK and France, while the industry claimed sales increases in Brazil, Israel, Russia and the Philippines.
“In 2012, Swiss chocolate manufacturers intend to expand their export businesses and compensate for the loss in value terms in 2011,” Chocosuisse said.
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By GlobalData
