Venezuela: Smart Card Market 2025

Smart Card Market Size in Venezuela

The Venezuelan smart card market reduced slightly to $X in 2022, with a decrease of -1.7% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.8% against 2019 indices. Smart card consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Smart Card Production in Venezuela

In value terms, smart card production reduced to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 123%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Smart Card Exports

Exports from Venezuela

In 2022, after two years of decline, there was significant growth in overseas shipments of cards incorporating an electronic integrated circuit (smart card), when their volume increased by 6.9% to X units. Over the period under review, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 823% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, smart card exports expanded notably to $X in 2022. Overall, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2013 when exports increased by 630%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Africa (X units) was the main destination for smart card exports from Venezuela, with a 97% share of total exports. It was followed by Bolivia (X units), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to South Africa was relatively modest.

In value terms, South Africa ($X) emerged as the key foreign market for cards incorporating an electronic integrated circuit (smart card) exports from Venezuela, comprising 97% of total exports. The second position in the ranking was held by Bolivia ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to South Africa was relatively modest.

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, with an increase of 4.6% against the previous year. Over the period under review, the export price, however, faced a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 186% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Bolivia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+2.5%), while the prices for the other major destinations experienced a decline.

Smart Card Imports

Imports into Venezuela

In 2022, purchases abroad of cards incorporating an electronic integrated circuit (smart card) decreased by -25.4% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, smart card imports declined significantly to $X in 2022. Over the period under review, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 243% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X units), China (X units) and Germany (X units) were the main suppliers of smart card imports to Venezuela, with a combined 89% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of -1.2%), while purchases for the other leaders experienced a decline.

In value terms, Germany ($X) constituted the largest supplier of cards incorporating an electronic integrated circuit (smart card) to Venezuela, comprising 39% of total imports. The second position in the ranking was held by Brazil ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to -9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-12.4% per year) and China (-14.1% per year).

Import Prices by Country

The average smart card import price stood at $X per unit in 2022, falling by -13.4% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 121%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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