Peru: Smart Card Market 2024

Smart Card Market Size in Peru

The Peruvian smart card market dropped to $X in 2022, falling by -9.3% against the previous year. In general, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Smart Card Production in Peru

In value terms, smart card production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 105% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Smart Card Exports

Exports from Peru

In 2022, smart card exports from Peru declined notably to X units, dropping by -44.3% on the previous year's figure. Overall, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 252%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, smart card exports fell sharply to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 109% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Chile (X units) was the main destination for smart card exports from Peru, with a 48% share of total exports. Moreover, smart card exports to Chile exceeded the volume sent to the second major destination, Ecuador (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Chile totaled +31.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+131.0% per year) and Bolivia (-35.9% per year).

In value terms, Chile ($X) emerged as the key foreign market for cards incorporating an electronic integrated circuit (smart card) exports from Peru, comprising 28% of total exports. The second position in the ranking was held by Ecuador ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+45.2% per year) and Bolivia (-37.3% per year).

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, with an increase of 45% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 66%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Chile ($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 Bolivia (-2.2%), while the prices for the other major destinations experienced a decline.

Smart Card Imports

Imports into Peru

Smart card imports into Peru contracted significantly to X units in 2022, waning by -17.1% on the year before. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.9% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 62%. Imports peaked at X units in 2021, and then dropped significantly in the following year.

In value terms, smart card imports rose modestly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 53%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Brazil (X units) and Colombia (X units) were the main suppliers of smart card imports to Peru, with a combined 83% share of total imports. Mexico, Vietnam and Thailand lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +67.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest smart card suppliers to Peru were Brazil ($X), Colombia ($X) and Mexico ($X), with a combined 71% share of total imports.

Colombia, with a CAGR of +65.8%, recorded 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

In 2022, the average smart card import price amounted to $X per unit, jumping by 24% against the previous year. Over the period under review, the import price, however, saw a abrupt shrinkage. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+6.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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