Turkey: Smart Card Market 2024

Smart Card Market Size in Turkey

In 2022, the Turkish smart card market increased by 25% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Smart Card Production in Turkey

In value terms, smart card production declined dramatically to $X in 2022 estimated in export price. In general, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 69% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Smart Card Exports

Exports from Turkey

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) exported from Turkey surged to X units, with an increase of 23% on 2021. In general, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 112% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, smart card exports contracted slightly to $X in 2022. Overall, exports recorded slight growth. The pace of growth appeared the most rapid in 2021 when exports increased by 56%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Egypt (X units) was the main destination for smart card exports from Turkey, accounting for a 44% share of total exports. Moreover, smart card exports to Egypt exceeded the volume sent to the second major destination, Morocco (X units), threefold. The third position in this ranking was taken by Jordan (X units), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Egypt stood at +114.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+110.2% per year) and Jordan (+54.4% per year).

In value terms, the largest markets for smart card exported from Turkey were Egypt ($X), Qatar ($X) and Georgia ($X), with a combined 27% share of total exports.

Egypt, with a CAGR of +82.0%, recorded the highest growth rate of the value of exports, among 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

The average smart card export price stood at $X per unit in 2022, falling by -22.5% against the previous year. Overall, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to Morocco (less than $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 Bangladesh (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.

Smart Card Imports

Imports into Turkey

In 2022, overseas purchases of cards incorporating an electronic integrated circuit (smart card) increased by 30% to X units for the first time since 2018, thus ending a three-year declining trend. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 45%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, smart card imports soared to $X in 2022. Overall, imports recorded prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest smart card supplier to Turkey, with a 75% share of total imports. Moreover, smart card imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. Thailand (X units) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+17.0% per year) and Thailand (+26.3% per year).

In value terms, China ($X) constituted the largest supplier of cards incorporating an electronic integrated circuit (smart card) to Turkey, comprising 43% of total imports. The second position in the ranking was held by Romania ($X), with a 15% share of total imports. It was followed by Thailand, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+154.5% per year) and Thailand (+30.4% per year).

Import Prices by Country

The average smart card import price stood at $X per unit in 2022, surging by 16% against the previous year. In general, the import price, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 19%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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