Kenya: Magnetic Card Market 2025

Magnetic Card Market Size in Kenya

The Kenyan magnetic card market shrank significantly to $X in 2021, falling by -50% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a deep slump. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Magnetic Card Exports

Exports from Kenya

In 2021, magnetic card exports from Kenya skyrocketed to X units, jumping by 50% against 2020 figures. In general, exports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 1,652% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, magnetic card exports fell rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 1,805% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for magnetic card exports from Kenya, with a 66% share of total exports. Moreover, magnetic card exports to the United Arab Emirates exceeded the volume sent to the second major destination, Tanzania (X units), fourfold. The third position in this ranking was held by Sudan (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +46.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+0.3% per year) and Sudan (+7.0% per year).

In value terms, the largest markets for magnetic card exported from Kenya were Sudan ($X), the United Arab Emirates ($X) and Tanzania ($X), with a combined 86% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +37.8%, recorded the highest rates of growth with regard to 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, falling by -56.4% against the previous year. Overall, the export price, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 338%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sudan ($X per unit), while the average price for exports to Rwanda ($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 Zimbabwe (+30.3%), while the prices for the other major destinations experienced more modest paces of growth.

Magnetic Card Imports

Imports into Kenya

In 2021, the amount of cards incorporating a magnetic stripe imported into Kenya declined notably to X units, reducing by -41.9% on the previous year's figure. Overall, imports saw a drastic downturn. The growth pace was the most rapid in 2014 when imports increased by 411%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, magnetic card imports dropped remarkably to $X in 2021. In general, imports continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2014 with an increase of 431%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Thailand (X units) and the United Arab Emirates (X units) were the main suppliers of magnetic card imports to Kenya, together accounting for 87% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +17.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), the United Arab Emirates ($X) and Singapore ($X) constituted the largest magnetic card suppliers to Kenya, with a combined 85% share of total imports.

Thailand, with a CAGR of +2.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average magnetic card import price amounted to $X per unit, which is down by -33.4% against the previous year. Overall, the import price faced a deep reduction. The pace of growth was the most pronounced in 2020 an increase of 38% against the previous year. 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 stood at a somewhat 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 Singapore ($X per unit), while the price for Rwanda (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 Rwanda (+44.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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