Hungary: Magnetic Card Market 2024

Magnetic Card Market Size in Hungary

The Hungarian magnetic card market fell markedly to $X in 2022, which is down by X% against the previous year. Overall, consumption continues to indicate a abrupt descent. Magnetic card consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Magnetic Card Production in Hungary

In value terms, magnetic card production contracted to $X in 2022 estimated in export price. Overall, production showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Magnetic Card Exports

Exports from Hungary

In 2022, the amount of cards incorporating a magnetic stripe exported from Hungary skyrocketed to X units, growing by X% compared with 2021 figures. Overall, exports, however, saw a sharp descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure 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 abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Serbia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Italy (X% per year).

In value terms, Italy ($X), Serbia ($X) and the United States ($X) were the largest markets for magnetic card exported from Hungary worldwide, with a combined X% share of total exports.

Italy, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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 magnetic card export price amounted to $X per unit, declining by X% against the previous year. In general, the export price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Slovakia ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Magnetic Card Imports

Imports into Hungary

After three years of growth, overseas purchases of cards incorporating a magnetic stripe decreased by X% to X units in 2022. Overall, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at X units in 2021, and then dropped remarkably in the following year.

In value terms, magnetic card imports dropped rapidly to $X in 2022. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest magnetic card supplier to Hungary, with a X% share of total imports. Moreover, magnetic card imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. France (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, the largest magnetic card suppliers to Hungary were Germany ($X), China ($X) and Romania ($X), with a combined X% share of total imports.

Romania, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average magnetic card import price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the import price, however, showed a mild slump. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Romania ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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