Egypt: Magnetic Card Market 2024

Magnetic Card Market Size in Egypt

The Egyptian magnetic card market was finally on the rise to reach $X in 2021, after eight years of decline. Overall, consumption, however, recorded a dramatic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Magnetic Card Production in Egypt

In value terms, magnetic card production totaled $X in 2021 estimated in export price. Over the period under review, production saw a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 4.2% against the previous year. Magnetic card production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Magnetic Card Exports

Exports from Egypt

Magnetic card exports from Egypt shrank remarkably to X units in 2021, which is down by -54.7% against 2020. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 720%. The exports peaked at X units in 2020, and then shrank notably in the following year.

In value terms, magnetic card exports shrank notably to $X in 2021. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 637%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Kuwait (X units) was the main destination for magnetic card exports from Egypt, accounting for a 88% share of total exports. It was followed by the United Arab Emirates (X units), with a 2.3% share of total exports. The third position in this ranking was held by Pakistan (X units), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kuwait amounted to +101.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+152.4% per year) and Pakistan (+110.1% per year).

In value terms, Kuwait ($X) remains the key foreign market for cards incorporating a magnetic stripe exports from Egypt, comprising 38% of total exports. The second position in the ranking was held by Pakistan ($X), with a 9.4% share of total exports. It was followed by Zimbabwe, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value to Kuwait totaled +113.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+105.8% per year) and Zimbabwe (+0.4% per year).

Export Prices by Country

The average magnetic card export price stood at $X per unit in 2021, declining by -18.2% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2018 when the average export price increased by 19%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to Kuwait ($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 Latvia (+290.9%), while the prices for the other major destinations experienced mixed trend patterns.

Magnetic Card Imports

Imports into Egypt

In 2021, overseas purchases of cards incorporating a magnetic stripe decreased by -65.9% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 140%. Over the period under review, imports reached the peak figure at X units in 2020, and then declined markedly in the following year.

In value terms, magnetic card imports contracted rapidly to $X in 2021. Overall, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 359% against the previous year. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

China (X units), Saudi Arabia (X units) and Germany (X units) were the main suppliers of magnetic card imports to Egypt, with a combined 88% share of total imports. Ireland and the United Arab Emirates lagged somewhat behind, together comprising a further 5%.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +205.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of cards incorporating a magnetic stripe to Egypt, comprising 60% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 1.9% share of total imports. It was followed by Germany, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +35.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+45.2% per year) and Germany (-19.6% per year).

Import Prices by Country

In 2021, the average magnetic card import price amounted to $X per unit, jumping by 42% against the previous year. In general, the import price recorded moderate growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 120% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+21.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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