Finland: Smart Card Market 2024

Smart Card Market Size in Finland

The Finnish smart card market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Smart Card Production in Finland

In value terms, smart card production contracted notably to $X in 2022 estimated in export price. In general, production showed a dramatic decline. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Smart card production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Smart Card Exports

Exports from Finland

In 2022, overseas shipments of cards incorporating an electronic integrated circuit (smart card) increased by X% to X units, rising for the sixth year in a row after four years of decline. Over the period under review, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, smart card exports skyrocketed to $X in 2022. Overall, exports, however, saw a pronounced downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for smart card exports from Finland, accounting for a X% share of total exports. Moreover, smart card exports to Turkey exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Sweden (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Sweden (X% per year).

In value terms, the largest markets for smart card exported from Finland were Turkey ($X), Sweden ($X) and Belgium ($X), together accounting for X% of total exports.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced mixed trend patterns.

Smart Card Imports

Imports into Finland

In 2022, overseas purchases of cards incorporating an electronic integrated circuit (smart card) increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a temperate increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, smart card imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and Thailand (X units) were the main suppliers of smart card imports to Finland, together comprising X% of total imports. The United States, Denmark, Spain, Poland, France and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of cards incorporating an electronic integrated circuit (smart card) to Finland, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

Import Prices by Country

The average smart card import price stood at $X per unit in 2022, reducing by X% against the previous year. Overall, the import price showed a deep setback. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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