Argentina: Smart Card Market 2024

Smart Card Market Size in Argentina

The Argentinian smart card market expanded markedly to $X in 2022, rising by 12% against the previous year. In general, consumption posted strong growth. Smart card consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Smart Card Production in Argentina

In value terms, smart card production expanded notably to $X in 2022 estimated in export price. Overall, production showed a prominent increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Smart Card Exports

Exports from Argentina

After three years of growth, shipments abroad of cards incorporating an electronic integrated circuit (smart card) decreased by -42.1% to X units in 2022. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 431% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, smart card exports shrank sharply to $X in 2022. In general, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 451%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Paraguay (X units) was the main destination for smart card exports from Argentina, with a 74% share of total exports. Moreover, smart card exports to Paraguay exceeded the volume sent to the second major destination, Uruguay (X units), fivefold. The third position in this ranking was taken by Brazil (X units), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay stood at +52.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+24.0% per year) and Brazil (-4.1% per year).

In value terms, Paraguay ($X) remains the key foreign market for cards incorporating an electronic integrated circuit (smart card) exports from Argentina, comprising 66% of total exports. The second position in the ranking was held by Uruguay ($X), with an 18% share of total exports. It was followed by Bolivia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Paraguay totaled +76.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+55.0% per year) and Bolivia (+12.3% per year).

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, picking up by 21% against the previous year. In general, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 114%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Brazil ($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 Bolivia (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Smart Card Imports

Imports into Argentina

In 2022, overseas purchases of cards incorporating an electronic integrated circuit (smart card) were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 214%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, smart card imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 86%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X units), China (X units) and Mexico (X units) were the main suppliers of smart card imports to Argentina, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +15.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest smart card suppliers to Argentina were Brazil ($X), China ($X) and Mexico ($X), with a combined 92% share of total imports.

In terms of the main suppliers, China, with a CAGR of +15.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average smart card import price amounted to $X per unit, which is down by -17.4% against the previous year. Over the period under review, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 61%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+19.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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