ECOWAS: Smart Card Market 2024

Smart Card Market Size in ECOWAS

The ECOWAS smart card market expanded sharply to $X in 2022, picking up by X% against the previous year. In general, consumption enjoyed a strong increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Smart Card Production in ECOWAS

In value terms, smart card production expanded to $X in 2022 estimated in export price. Over the period under review, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Smart Card Exports

Exports in ECOWAS

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) exported in ECOWAS soared to X units, picking up by X% against 2021. In general, exports, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, smart card exports fell modestly to $X in 2022. Total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X units) and Ghana (X units) represented the largest exporters of cards incorporating an electronic integrated circuit (smart card) in ECOWAS, together recording near X% of total exports. Nigeria (X units) ranks next in terms of the total exports with a X% share, followed by Burkina Faso (X%). Senegal (X units) and Sierra Leone (X units) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Senegal, Burkina Faso and Sierra Leone lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Senegal, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a significant increase. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per unit, and then declined rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Burkina Faso ($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 more modest paces of growth.

Smart Card Imports

Imports in ECOWAS

Smart card imports surged to X units in 2022, growing by X% compared with the year before. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, smart card imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2018 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X units), distantly followed by Ghana (X units), Mali (X units), Burkina Faso (X units), Senegal (X units), Niger (X units), Benin (X units), Guinea (X units) and Nigeria (X units) were the major importers of cards incorporating an electronic integrated circuit (smart card), together constituting X% of total imports.

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

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported cards incorporating an electronic integrated circuit (smart card) in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Burkina Faso, with an X% share.

In Cote d'Ivoire, smart card imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, remaining stable against the previous year. Overall, the import price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per unit), while Niger ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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