Bangladesh: Smart Card Market 2024

Smart Card Market Size in Bangladesh

The Bangladeshi smart card market shrank to $X in 2022, which is down by X% against the previous year. In general, consumption, however, saw strong growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Smart Card Production in Bangladesh

In value terms, smart card production reduced to $X in 2022 estimated in export price. In general, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Smart Card Exports

Exports from Bangladesh

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) exported from Bangladesh surged to X units, with an increase of X% compared with 2021. Over the period under review, exports posted a notable expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, smart card exports surged to $X in 2022. In general, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X units) was the main destination for smart card exports from Bangladesh, accounting for a X% share of total exports. Moreover, smart card exports to Hong Kong SAR exceeded the volume sent to the second major destination, Turkey (X units), threefold. Indonesia (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Indonesia (X% per year).

In value terms, Greece ($X), Hong Kong SAR ($X) and Indonesia ($X) appeared to be the largest markets for smart card exported from Bangladesh worldwide, with a combined X% share of total exports.

Among the main countries of destination, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, saw resilient growth. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per unit), while the average price for exports to China ($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 India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Smart Card Imports

Imports into Bangladesh

After three years of growth, supplies from abroad of cards incorporating an electronic integrated circuit (smart card) decreased by X% to X units in 2022. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then fell in the following year.

In value terms, smart card imports declined sharply to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

China (X units), Hong Kong SAR (X units) and Malaysia (X units) were the main suppliers of smart card imports to Bangladesh, with a combined X% share of total imports. Greece lagged somewhat behind, comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of X.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest smart card suppliers to Bangladesh were Hong Kong SAR ($X), China ($X) and Malaysia ($X), together accounting for X% of total imports. These countries were followed by Greece, which accounted for a further X%.

Among the main suppliers, Greece, with a CAGR of X.2%, saw the highest growth rate of the value of imports, 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, waning by X% against the previous year. In general, the import price saw a mild contraction. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 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 Greece ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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