Latest Report Update: Dec 20, 2019

Latvia - Cards Incorporating An Electronic Integrated Circuit (Smart Card) - Market Analysis, Forecast, Size, Trends and Insights
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Latvia: Smart Card Market Overview 2020

Smart Card Market Size in Latvia

The revenue of the smart card market in Latvia amounted to $X in 2018, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total market indicated a slight expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, smart card consumption decreased by -X% against 2014 indices. The most prominent rate of growth was recorded in 2010 when the market value increased by X% y-o-y. Over the period under review, the smart card market reached its peak figure level at $X in 2014; however, from 2015 to 2018, consumption failed to regain its momentum.

Smart Card Exports

Exports from Latvia

In 2018, the amount of cards incorporating an electronic integrated circuit (smart card) exported from Latvia totaled X units, going up by X% against the previous year. Over the period under review, smart card exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2009 with an increase of X% year-to-year. Latvia exports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, smart card exports stood at $X in 2018. In general, smart card exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Latvia exports peaked in 2018 and are likely to see steady growth in the near future.

Exports by Country

Viet Nam was the major exporter of cards incorporating an electronic integrated circuit (smart card) in the world, with the volume of exports reaching X units, which was approx. X% of total exports in 2018. It was distantly followed by China (X units), creating a X% share of total exports. The following exporters - Malaysia (X units) and Mexico (X units) - each finished at a X% share of total exports.

Viet Nam was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) exports, with a CAGR of +X% from 2007 to 2018. At the same time, Mexico (+X%), Malaysia (+X%) and China (+X%) displayed positive paces of growth. While the share of Viet Nam (+X p.p.), China (+X p.p.), Malaysia (+X p.p.) and Mexico (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest smart card supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Malaysia, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

In 2018, the smart card export price in Latvia amounted to $X per unit, surging by X% against the previous year. Overall, the smart card export price continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2011 when the export price increased by X% y-o-y. In that year, the export prices for cards incorporating an electronic integrated circuit (smart card) reached their peak level of $X per unit. From 2012 to 2018, the growth in terms of the export prices for cards incorporating an electronic integrated circuit (smart card) remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Mexico ($X per unit), while Viet Nam ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports into Latvia

Smart card imports into Latvia amounted to X units in 2018, picking up by X% against the previous year. In general, smart card imports continue to indicate remarkable growth. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Latvia imports peaked at X units in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

In value terms, smart card imports totaled $X in 2018. In general, smart card imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Latvia imports peaked at $X in 2013; however, from 2014 to 2018, imports failed to regain their momentum.

Imports by Country

The U.S. (X units) and China (X units) were the largest importers of cards incorporating an electronic integrated circuit (smart card) in 2018, amounting to near X% and X% of total imports, respectively. It was distantly followed by India (X units), Germany (X units) and Viet Nam (X units), together constituting an X% share of total imports. The Netherlands (X units), the UK (X units), France (X units), South Africa (X units), Indonesia (X units), China, Hong Kong SAR (X units) and Russia (X units) occupied a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Viet Nam, while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), China ($X) and Germany ($X) were the countries with the highest levels of imports in 2018, together comprising X% of total imports. These countries were followed by China, Hong Kong SAR, France, the UK, India, Indonesia, the Netherlands, South Africa, Russia, Viet Nam and Latvia, which together accounted for a further X recorded the highest growth rate of imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The smart card import price in Latvia stood at $X per unit in 2018, shrinking by -X% against the previous year. Overall, the smart card import price continues to indicate a measured downturn. The pace of growth appeared the most rapid in 2008 an increase of X% against the previous year. In that year, the import prices for cards incorporating an electronic integrated circuit (smart card) attained their peak level of $X per unit. From 2009 to 2018, the growth in terms of the import prices for cards incorporating an electronic integrated circuit (smart card) remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per unit), while Viet Nam ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

Product coverage:
• Prodcom 26123000 - Smart cards

This report provides an in-depth analysis of the smart card market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Country coverage:
• Latvia

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Latvia
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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