Hong Kong SAR, China: Magnetic Card Market 2024

Magnetic Card Market Size in Hong Kong SAR, China

In 2021, the Hong Kong magnetic card market increased by 7.3% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption, however, showed a deep reduction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Magnetic Card Production in Hong Kong SAR, China

In value terms, magnetic card production contracted significantly to $X in 2021 estimated in export price. Over the period under review, production, however, faced a deep downturn. The growth pace was the most rapid in 2019 with an increase of 265%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Magnetic Card Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of cards incorporating a magnetic stripe were exported from Hong Kong SAR; declining by -65.6% compared with 2020. In general, exports faced a significant curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 108%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnetic card exports shrank markedly to $X in 2021. Overall, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 282%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

China (X units), Japan (X units) and Macao SAR (X units) were the main destinations of magnetic card exports from Hong Kong SAR, with a combined 66% share of total exports. The United States, Pakistan, the Philippines, Germany, Canada, Australia and Malaysia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +21.0%), while the other leaders experienced a decline.

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest markets for magnetic card exported from Hong Kong SAR worldwide, with a combined 70% share of total exports. Germany, Pakistan, Macao SAR, Australia, the Philippines, Canada and Malaysia lagged somewhat behind, together comprising a further 13%.

Germany, with a CAGR of +31.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average magnetic card export price amounted to $X per unit, falling by -79.7% against the previous year. In general, the export price, however, showed a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of 458%. As a result, the export price attained the peak level of $X per unit, and then dropped markedly in the following year.

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 Australia ($X per unit), while the average price for exports to the Philippines (less than $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 Australia (+50.1%), while the prices for the other major destinations experienced more modest paces of growth.

Magnetic Card Imports

Imports into Hong Kong SAR, China

In 2021, the amount of cards incorporating a magnetic stripe imported into Hong Kong SAR fell notably to X units, shrinking by -51.8% against the previous year's figure. In general, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of 21%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, magnetic card imports dropped dramatically to $X in 2021. Over the period under review, imports saw a precipitous contraction. The pace of growth appeared the most rapid in 2020 with an increase of 150%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of magnetic card to Hong Kong SAR, with a 60% share of total imports. Moreover, magnetic card imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. Germany (X units) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.3% per year) and Germany (-12.9% per year).

In value terms, China ($X) constituted the largest supplier of cards incorporating a magnetic stripe to Hong Kong SAR, comprising 80% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by France, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-33.5% per year) and France (+14.9% per year).

Import Prices by Country

In 2021, the average magnetic card import price amounted to $X per unit, shrinking by -64.5% against the previous year. Overall, the import price showed a deep slump. The growth pace was the most rapid in 2020 an increase of 286% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank dramatically in the following year.

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 Taiwan (Chinese) ($X per unit), while the price for Germany (less than $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 (+11.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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