Africa: Magnetic Card Market 2024

Magnetic Card Market Size in Africa

The African magnetic card market contracted rapidly to $X in 2022, declining by X% against the previous year. In general, consumption, however, showed a noticeable slump. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Magnetic Card Production in Africa

In value terms, magnetic card production declined rapidly to $X in 2022 estimated in export price. Overall, production saw a abrupt decline. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Magnetic Card Exports

Exports in Africa

In 2022, shipments abroad of cards incorporating a magnetic stripe increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, magnetic card exports skyrocketed to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Tunisia represented the main exporting country with an export of around X units, which resulted at X% of total exports. Morocco (X units) held the second position in the ranking, distantly followed by Ghana (X units). All these countries together took approx. X% share of total exports. Mauritius (X units), Rwanda (X units) and South Africa (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Rwanda (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X) remains the largest magnetic card supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

In Tunisia, magnetic card exports plunged by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (X% per year) and Morocco (X% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Rwanda (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced more modest paces of growth.

Magnetic Card Imports

Imports in Africa

In 2022, approx. X units of cards incorporating a magnetic stripe were imported in Africa; picking up by X% against 2021. Overall, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, magnetic card imports reduced modestly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ethiopia dominates imports structure, finishing at X units, which was approx. X% of total imports in 2022. Egypt (X units) held the second position in the ranking, followed by Algeria (X units) and Nigeria (X units). All these countries together took near X% share of total imports. Botswana (X units) held a little share of total imports.

Imports into Ethiopia increased at an average annual rate of X% from 2012 to 2022. At the same time, Botswana (X%), Egypt (X%), Algeria (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Botswana emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ethiopia, Egypt, Botswana and Algeria increased by X, X, X and X percentage points, respectively.

In value terms, Ethiopia ($X) constitutes the largest market for imported cards incorporating a magnetic stripe in Africa, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Ethiopia, magnetic card imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Africa stood at $X per unit in 2022, declining by X% against the previous year. Overall, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Algeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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