Finland: Smart Card Market 2025

Smart Card Market Size in Finland

The Finnish smart card market reduced markedly to $X in 2022, waning by -31.9% against the previous year. Over the period under review, consumption saw a deep reduction. Smart card consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Smart Card Production in Finland

In value terms, smart card production declined rapidly to $X in 2022 estimated in export price. Overall, production faced a sharp curtailment. The growth pace was the most rapid in 2017 when the production volume increased by 7.2% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Smart Card Exports

Exports from Finland

In 2022, overseas shipments of cards incorporating an electronic integrated circuit (smart card) increased by 77% to X units, rising for the fifth consecutive year after five years of decline. Overall, exports continue to indicate a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, smart card exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced shrinkage. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X units) was the main destination for smart card exports from Finland, with a 37% share of total exports. Moreover, smart card exports to Turkey exceeded the volume sent to the second major destination, Sweden (X units), threefold. The United States (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey stood at +104.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+0.8% per year) and the United States (+35.1% per year).

In value terms, Turkey ($X), Sweden ($X) and Belgium ($X) constituted the largest markets for smart card exported from Finland worldwide, with a combined 61% share of total exports.

Turkey, with a CAGR of +100.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, growing by 8.8% against the previous year. Over the period under review, the export price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of 27%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to the United States ($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 France (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Smart Card Imports

Imports into Finland

In 2022, imports of cards incorporating an electronic integrated circuit (smart card) into Finland surged to X units, picking up by 33% against the previous year. Over the period under review, imports showed modest growth. The growth pace was the most rapid in 2019 with an increase of 60% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, smart card imports soared to $X in 2022. In general, imports, however, saw a abrupt setback. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest smart card supplier to Finland, with a 43% share of total imports. Moreover, smart card imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Thailand (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.6% per year) and Thailand (+7.2% per year).

In value terms, the largest smart card suppliers to Finland were Poland ($X), China ($X) and Thailand ($X), together comprising 56% of total imports. Spain, the United States, France, Germany, Denmark, Malaysia and Singapore lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Spain, with a CAGR of +14.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average smart card import price amounted to $X per unit, picking up by 15% against the previous year. Over the period under review, the import price, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2015 when the average import price increased by 22%. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per unit), while the price for China ($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 (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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