Colombia: Magnetic Card Market 2025

Magnetic Card Market Size in Colombia

After four years of decline, the Colombian magnetic card market increased by 29% to $X in 2021. Overall, consumption, however, continues to indicate a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Magnetic Card Production in Colombia

In value terms, magnetic card production rose sharply to $X in 2021 estimated in export price. In general, production, however, showed a deep slump. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Magnetic Card Exports

Exports from Colombia

In 2021, approx. X units of cards incorporating a magnetic stripe were exported from Colombia; waning by -59.9% compared with the previous year's figure. Overall, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 40% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, magnetic card exports shrank remarkably to $X in 2021. In general, exports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 30% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Mexico (X units) and Peru (X units) were the main destinations of magnetic card exports from Colombia, together accounting for 69% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Peru ($X) constituted the largest markets for magnetic card exported from Colombia worldwide, with a combined 71% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +25.7%, saw the highest growth rate of 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 2021, the average magnetic card export price amounted to $X per unit, picking up by 25% against the previous year. Overall, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Magnetic Card Imports

Imports into Colombia

In 2021, imports of cards incorporating a magnetic stripe into Colombia skyrocketed to X units, picking up by 50% on the year before. Overall, imports, however, faced a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 173% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, magnetic card imports soared to $X in 2021. In general, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 177%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), Spain (X units) and China (X units) were the main suppliers of magnetic card imports to Colombia, together accounting for 75% of total imports. Germany, Switzerland, Mexico and Italy lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +130.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of cards incorporating a magnetic stripe to Colombia, comprising 32% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+26.9% per year) and China (-24.6% per year).

Import Prices by Country

In 2021, the average magnetic card import price amounted to $X per unit, surging by 19% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 63% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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