Latin America and the Caribbean: Magnetic Media Market 2024

Magnetic Media Market Size in Latin America and the Caribbean

In 2021, the Latin American magnetic media market increased by 9.9% to $X, rising for the sixth consecutive year after three years of decline. Over the period under review, consumption, however, saw a remarkable increase. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Magnetic Media Production in Latin America and the Caribbean

In value terms, magnetic media production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 200% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Magnetic Media Exports

Exports in Latin America and the Caribbean

For the ninth consecutive year, LatAmerica and the Caribbean recorded decline in overseas shipments of magnetic media, not recorded, except cards with a magnetic stripe, which decreased by -3.6% to X units in 2021. Overall, exports continue to indicate a sharp contraction. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, magnetic media exports contracted notably to $X in 2021. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X units) was the key exporter of magnetic media, not recorded, except cards with a magnetic stripe, comprising 69% of total exports. It was distantly followed by Bolivia (X units) and Brazil (X units), together achieving a 25% share of total exports. Colombia (X units) held a minor share of total exports.

Exports from Mexico decreased at an average annual rate of -38.0% from 2012 to 2021. At the same time, Bolivia (+65.7%), Brazil (+3.3%) and Colombia (+2.0%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +65.7% from 2012-2021. While the share of Bolivia (+16 p.p.), Brazil (+8.5 p.p.) and Colombia (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-9.5 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest magnetic media supplier in Latin America and the Caribbean, comprising 91% of total exports. The second position in the ranking was held by Bolivia ($X), with a 2.3% share of total exports. It was followed by Brazil, with a 1.5% share.

In Mexico, magnetic media exports plunged by an average annual rate of -14.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bolivia (+53.8% per year) and Brazil (-10.0% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, declining by -12.6% against the previous year. Over the period under review, the export price, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when the export price increased by 92% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2020, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+38.1%), while the other leaders experienced a decline in the export price figures.

Magnetic Media Imports

Imports in Latin America and the Caribbean

In 2021, imports of magnetic media, not recorded, except cards with a magnetic stripe in Latin America and the Caribbean dropped to X units, waning by -10.3% against the year before. In general, imports faced a dramatic setback. The most prominent rate of growth was recorded in 2019 when imports increased by 29% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, magnetic media imports soared to $X in 2021. Over the period under review, imports recorded a abrupt decrease. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Mexico was the major importing country with an import of about X units, which accounted for 52% of total imports. It was distantly followed by Brazil (X units), achieving a 24% share of total imports. The following importers - Guatemala (X units), Chile (X units), Costa Rica (X units), Bolivia (X units) and Honduras (X units) - together made up 15% of total imports.

Imports into Mexico decreased at an average annual rate of -20.9% from 2012 to 2021. Bolivia (-1.7%), Brazil (-5.0%), Chile (-16.0%), Costa Rica (-28.8%), Guatemala (-31.9%) and Honduras (-33.3%) illustrated a downward trend over the same period. While the share of Brazil (+21 p.p.), Mexico (+18 p.p.), Chile (+2.3 p.p.) and Bolivia (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Costa Rica (-2.1 p.p.), Honduras (-3.4 p.p.) and Guatemala (-6.4 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported magnetic media, not recorded, except cards with a magnetic stripe in Latin America and the Caribbean, comprising 69% of total imports. The second position in the ranking was held by Brazil ($X), with a 6% share of total imports. It was followed by Guatemala, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled -4.7%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-9.0% per year) and Guatemala (-2.5% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, rising by 31% against the previous year. In general, the import price saw a significant increase. The pace of growth appeared the most rapid in 2017 when the import price increased by 74% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Honduras ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+43.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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