Finland: Magnetic Card Market 2024

Magnetic Card Market Size in Finland

After four years of decline, the Finnish magnetic card market increased by 317% to $X in 2021. Overall, consumption, however, saw a deep reduction. Magnetic card consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Magnetic Card Production in Finland

In value terms, magnetic card production declined to $X in 2021 estimated in export price. In general, production, however, saw a precipitous setback. The most prominent rate of growth was recorded in 2016 with an increase of 105%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Magnetic Card Exports

Exports from Finland

For the seventh consecutive year, Finland recorded decline in shipments abroad of cards incorporating a magnetic stripe, which decreased by -43.4% to X units in 2021. In general, exports continue to indicate a dramatic decrease. The growth pace was the most rapid in 2014 with an increase of 8.9% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, magnetic card exports declined rapidly to $X in 2021. Overall, exports saw a precipitous decrease. The most prominent rate of growth was recorded in 2014 with an increase of 14% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Estonia (X units) and Canada (X units) were the main destinations of magnetic card exports from Finland, with a combined 48% share of total exports. These countries were followed by Australia, Norway, China, Iraq, Vietnam, Brazil, Japan, the UK, Qatar and South Korea, which together accounted for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +115.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for cards incorporating a magnetic stripe exports from Finland, comprising 56% of total exports. The second position in the ranking was taken by the UK ($X), with a 13% share of total exports. It was followed by Estonia, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+67.9% per year) and Estonia (-26.2% per year).

Export Prices by Country

The average magnetic card export price stood at $X per unit in 2021, rising by 8.5% against the previous year. Over the period under review, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 688%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Brazil ($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 Estonia (+26.3%), while the prices for the other major destinations experienced more modest paces of growth.

Magnetic Card Imports

Imports into Finland

After seven years of decline, supplies from abroad of cards incorporating a magnetic stripe increased by 338% to X units in 2021. In general, imports, however, saw a drastic downturn. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, magnetic card imports surged to $X in 2021. Overall, imports, however, faced a abrupt downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X units), Poland (X units) and Germany (X units) were the main suppliers of magnetic card imports to Finland, with a combined 82% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +40.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest magnetic card suppliers to Finland were Spain ($X), Italy ($X) and Poland ($X), together comprising 82% of total imports.

Poland, with a CAGR of +87.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average magnetic card import price stood at $X per unit in 2021, growing by 32% against the previous year. In general, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2019 an increase of 65%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Spain ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+33.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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