This small central European country of just 8.6 million inhabitants is usually associated with a few well-known products: watches, chocolate, cheese and banking services.
But Switzerland also has a very strong pharmaceutical industry, excellent industrial goods and an interesting tourist industry.
All this makes the Swiss Confederation an advanced, stable country with a very high purchasing power, with a GDP (per capita) in 2020 of 75,890 euros, while in Spain for the same period it was 23,690 euros.
Switzerland as a market
Although geographically in Europe, Switzerland is not a member of the European Union and customs procedures will be required to export goods from Spain. However, as a member of EFTA, many requirements are simplified.
Overall, Spain is an important supplier for Switzerland, ranking 5th in terms of turnover. Among the products we export most are fresh fruits and vegetables and also wines.
Spanish wine in Switzerland
Although there is some local production, Switzerland is a major importer of Spanish wines. In fact, our country is in 3rd place in the ranking, only behind Italy (leader with 76 million litres in 2019) and France (with 38 million litres in 2019). Spain managed to export 28 million litres in 2019.
In recent years, the trend for Spanish wine has been to decrease the quantities imported, although the average price per bottle has been increasing, approaching Italy’s values. France is still far ahead, but the indication is clear: Spanish wine is increasingly seen as a quality product.
Some keys to the wine market
- – Switzerland is clearly differentiated into 3 zones, German, French and Italian, with the German-speaking region having the greatest purchasing power and importing the most wine from Spain.
- – The annual wine consumption is 36 litres (Hb/year), one of the highest in the world.
- – Red wine is the most consumed, accounting for around 65% of the total, although rosé wines are growing.
- – Local wines and wines linked to a specific area or region, specific grapes, organic wines and low-alcohol wines are increasingly being considered.
- – The supermarket chains Coop and Denner absorb a large percentage of the annual share of imported wine and also of wine sales in general. There are however many independent importers with different company sizes and focus on quality wines.
Switzerland is a small country with high purchasing power and should be a clear target for Spanish exporters. If we focus on the wine market, we can indicate that the average price of the wine that Switzerland buys is much higher than in other markets, and therefore they appreciate quality much more. In fact, this is the country in Europe where most Spanish wineries are represented, well above Germany or the United Kingdom.
If your company is interested in this interesting market, IO Consultores can provide you with support and advice. Contact us for more information.