Western Africa: Smart Card Market 2024

Smart Card Market Size in Western Africa

The West African smart card market rose rapidly to $X in 2022, picking up by X% against the previous year. Overall, consumption recorded a prominent expansion. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Smart Card Production in Western Africa

In value terms, smart card production totaled $X in 2022 estimated in export price. In general, production saw a strong increase. The growth pace was the most rapid in 2015 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Smart Card Exports

Exports in Western Africa

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) exported in Western Africa soared to X units, with an increase of X% compared with the previous year's figure. Overall, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, smart card exports fell modestly to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. 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

Cote d'Ivoire (X units) and Ghana (X units) represented the key exporters of cards incorporating an electronic integrated circuit (smart card) in 2022, resulting at approx. X% and X% of total exports, respectively. Nigeria (X units) ranks next in terms of the total exports with a X% share, followed by Burkina Faso (X%). Senegal (X units) and Sierra Leone (X units) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest smart card supplying countries in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for X% of total exports. Senegal, Burkina Faso and Sierra Leone lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Senegal, 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

In 2022, the export price in Western Africa amounted to $X per unit, reducing by X% against the previous year. Overall, the export price, however, continues to indicate a significant increase. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Smart Card Imports

Imports in Western Africa

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) imported in Western Africa rose markedly to X units, with an increase of X% on 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, smart card imports surged to $X in 2022. Overall, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X units), distantly followed by Ghana (X units), Mali (X units), Burkina Faso (X units), Senegal (X units), Niger (X units), Benin (X units), Guinea (X units) and Nigeria (X units) were the key importers of cards incorporating an electronic integrated circuit (smart card), together generating X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported cards incorporating an electronic integrated circuit (smart card) in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Burkina Faso, with a X% share.

In Cote d'Ivoire, smart card imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, growing by X% against the previous year. In general, the import price, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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