Central Asia: Magnetic Card Market 2024

Magnetic Card Market Size in Central Asia

In 2021, the Central Asian magnetic card market increased by 32% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Magnetic Card Production in Central Asia

In value terms, magnetic card production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 38%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Magnetic Card Exports

Exports in Central Asia

In 2021, shipments abroad of cards incorporating a magnetic stripe increased by 3.7% to X units, rising for the second consecutive year after two years of decline. In general, exports continue to indicate strong growth. The growth pace was the most rapid in 2020 with an increase of 1,594% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnetic card exports surged to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 227% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X units) represented roughly 100% of total exports in 2021.

Kazakhstan was also the fastest-growing in terms of the cards incorporating a magnetic stripe exports, with a CAGR of +5.4% from 2012 to 2021. While the share of Kazakhstan (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest magnetic card supplier in Central Asia.

In Kazakhstan, magnetic card exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per unit in 2021, surging by 81% against the previous year. In general, the export price, however, continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2019 when the export price increased by 87%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to -5.0% per year.

Magnetic Card Imports

Imports in Central Asia

Magnetic card imports skyrocketed to X units in 2021, surging by 153% against 2020. Over the period under review, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, magnetic card imports declined to $X in 2021. In general, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2015 when imports increased by 150%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Kazakhstan was the main importing country with an import of about X units, which resulted at 76% of total imports. Uzbekistan (X units) ranks second in terms of the total imports with a 14% share, followed by Kyrgyzstan (5.5%). Tajikistan (X units) followed a long way behind the leaders.

Imports into Kazakhstan increased at an average annual rate of +7.4% from 2012 to 2021. At the same time, Kyrgyzstan (+21.4%), Uzbekistan (+17.1%) and Tajikistan (+6.5%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +21.4% from 2012-2021. Uzbekistan (+14 p.p.) and Kyrgyzstan (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan saw its share reduced by -14.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X), Uzbekistan ($X) and Kyrgyzstan ($X) were the countries with the highest levels of imports in 2021, with a combined 89% share of total imports.

In terms of the main importing countries, Uzbekistan, with a CAGR of +27.0%, 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 trends in the imports figures.

Import Prices by Country

The import price in Central Asia stood at $X per unit in 2021, with a decrease of -65.2% against the previous year. In general, the import price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2015 an increase of 47%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Uzbekistan ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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