Philippines: Smart Card Market 2025

Smart Card Market Size in the Philippines

In 2022, the Philippine smart card market decreased by -76.9% to $X, falling for the second consecutive year after nine years of growth. In general, consumption, however, continues to indicate a precipitous decrease. Smart card consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Smart Card Production in the Philippines

In value terms, smart card production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production saw a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 64%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Smart Card Exports

Exports from the Philippines

In 2022, approx. X units of cards incorporating an electronic integrated circuit (smart card) were exported from the Philippines; with an increase of 440% against the year before. Over the period under review, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, smart card exports rose notably to $X in 2022. In general, exports, however, faced a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 255%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for smart card exports from the Philippines, accounting for a 22% share of total exports. Moreover, smart card exports to China exceeded the volume sent to the second major destination, Japan (X units), ninefold. The United States (X units) ranked third in terms of total exports with a 2% share.

From 2017 to 2022, the average annual growth rate of volume to China stood at +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+45.6% per year) and the United States (-28.6% per year).

In value terms, China ($X) remains the key foreign market for cards incorporating an electronic integrated circuit (smart card) exports from the Philippines, comprising 53% of total exports. The second position in the ranking was held by the United States ($X), with a 21% share of total exports. It was followed by Japan, with a 14% share.

From 2017 to 2022, the average annual growth rate of value to China amounted to +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-27.7% per year) and Japan (+44.4% per year).

Export Prices by Country

The average smart card export price stood at $X per unit in 2022, falling by -79.4% against the previous year. In general, the export price saw a significant curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by 9.1%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Smart Card Imports

Imports into the Philippines

In 2022, imports of cards incorporating an electronic integrated circuit (smart card) into the Philippines surged to X units, growing by 39% compared with the year before. Over the period under review, total imports indicated a buoyant expansion from 2017 to 2022: its volume increased at an average annual rate of +11.5% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.7% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, smart card imports rose remarkably to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 17% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main smart card supplier to the Philippines, with a 96% share of total imports. It was followed by Singapore (X units), with a 0.7% share of total imports.

From 2017 to 2022, the average annual growth rate of volume from China amounted to +12.9%.

In value terms, China ($X) constituted the largest supplier of cards incorporating an electronic integrated circuit (smart card) to the Philippines, comprising 80% of total imports. The second position in the ranking was held by Singapore ($X), with a 1.4% share of total imports.

From 2017 to 2022, the average annual rate of growth in terms of value from China totaled +6.9%.

Import Prices by Country

In 2022, the average smart card import price amounted to $X per unit, reducing by -18% against the previous year. Over the period under review, the import price saw a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the average import price increased by 12% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 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 Singapore ($X per unit), while the price for China stood at $X per unit.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-0.7%).

Source: IndexBox Platform

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