Turkey: Magnetic Card Market 2024

Magnetic Card Market Size in Turkey

The Turkish magnetic card market shrank to $X in 2022, approximately reflecting the previous year. In general, consumption saw a abrupt decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Magnetic Card Production in Turkey

In value terms, magnetic card production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Magnetic Card Exports

Exports from Turkey

In 2022, approx. X units of cards incorporating a magnetic stripe were exported from Turkey; dropping by X% compared with the year before. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, magnetic card exports declined to $X in 2022. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cyprus (X units) was the main destination for magnetic card exports from Turkey, accounting for a X% share of total exports. Moreover, magnetic card exports to Cyprus exceeded the volume sent to the second major destination, Denmark (X units), threefold. Tunisia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Tunisia (X% per year).

In value terms, Cyprus ($X), Denmark ($X) and Tunisia ($X) were the largest markets for magnetic card exported from Turkey worldwide, together accounting for X% of total exports. Canada, Germany, Tanzania, Kyrgyzstan, Romania, Serbia, Benin, France, Georgia and Moldova lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Canada, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average magnetic card export price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the export price showed a slight expansion. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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

Magnetic Card Imports

Imports into Turkey

In 2022, supplies from abroad of cards incorporating a magnetic stripe was finally on the rise to reach X units after two years of decline. In general, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, magnetic card imports soared to $X in 2022. Overall, imports, however, saw a perceptible contraction. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

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

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

In value terms, China ($X), Germany ($X) and Spain ($X) appeared to be the largest magnetic card suppliers to Turkey, together comprising X% of total imports.

Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average magnetic card import price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price posted strong growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

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 Spain ($X per unit), while the price for Germany (less than $X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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