Mexico: Magnetic Card Market 2024

Magnetic Card Market Size in Mexico

In 2022, the Mexican magnetic card market was finally on the rise to reach $X after five years of decline. Over the period under review, consumption, however, continues to indicate a resilient increase. Magnetic card consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Magnetic Card Production in Mexico

In value terms, magnetic card production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. Magnetic card production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Magnetic Card Exports

Exports from Mexico

In 2022, the amount of cards incorporating a magnetic stripe exported from Mexico declined to X units, shrinking by X% on the previous year's figure. In general, exports saw a precipitous decline. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, magnetic card exports surged to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for magnetic card exports from Mexico, with a X% share of total exports. Moreover, magnetic card exports to the United States exceeded the volume sent to the second major destination, Honduras (X units), fivefold.

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

In value terms, the United States ($X) remains the key foreign market for cards incorporating a magnetic stripe exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Ecuador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Honduras (X% per year).

Export Prices by Country

In 2022, the average magnetic card export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price saw a strong increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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

Magnetic Card Imports

Imports into Mexico

After two years of decline, overseas purchases of cards incorporating a magnetic stripe increased by X% to X units in 2022. Overall, imports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, magnetic card imports expanded significantly to $X in 2022. In general, imports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) was the main magnetic card supplier to Mexico, accounting for a X% share of total imports. Moreover, magnetic card imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%.

In value terms, the United States ($X) constituted the largest supplier of cards incorporating a magnetic stripe to Mexico, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%.

Import Prices by Country

The average magnetic card import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a slight decrease. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China amounted to $X per unit.

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

Source: IndexBox Platform

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