Cyprus: Smart Card Market 2020

Smart Card Market Size in Cyprus

The revenue of the smart card market in Cyprus amounted to $X in 2018, increasing by X% against the previous year. Overall, smart card consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, the smart card market reached its peak figure level at $X in 2007; however, from 2008 to 2018, consumption failed to regain its momentum.

Smart Card Production in Cyprus

In value terms, smart card production stood at $X in 2018 estimated in export prices. In general, smart card production continues to indicate a modest increase. The pace of growth was the most pronounced in 2009 with an increase of X% year-to-year. Cyprus smart card production peaked in 2018 and is expected to retain its growth in the near future.

Smart Card Exports

Exports from Cyprus

In 2018, approx. X units of cards incorporating an electronic integrated circuit (smart card) were exported from Cyprus; leveling off at the previous year. Over the period under review, smart card exports, however, continue to indicate an extraordinary increase. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Cyprus exports peaked at X units in 2012; however, from 2013 to 2018, exports stood at a somewhat lower figure.

In value terms, smart card exports amounted to $X in 2018. Overall, smart card exports, however, continue to indicate remarkable growth. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Cyprus exports peaked at $X in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

Exports by Country

Vietnam represented the key exporter of cards incorporating an electronic integrated circuit (smart card) in the world, with the volume of exports reaching X units, which was approx. X% of total exports in 2018. It was distantly followed by China (X units), achieving a X% share of total exports. The following exporters - Malaysia (X units) and Mexico (X units) - each finished at a X% share of total exports.

Vietnam was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) exports, with a CAGR of +X% from 2007 to 2018. At the same time, Mexico (+X%), Malaysia (+X%) and China (+X%) displayed positive paces of growth. From 2007 to 2018, the share of Vietnam, China, Malaysia and Mexico increased by +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest smart card supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Malaysia, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China totaled +X%. In the other countries, the average annual rates were as follows: Mexico (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

The smart card export price in Cyprus stood at $X per unit in 2018, picking up by X% against the previous year. In general, the smart card export price, however, continues to indicate an abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of X% y-o-y. Over the period under review, the export prices for cards incorporating an electronic integrated circuit (smart card) attained their maximum at $X per unit in 2012; however, from 2013 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Mexico ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports into Cyprus

In 2018, the amount of cards incorporating an electronic integrated circuit (smart card) imported into Cyprus amounted to X units, therefore, remained relatively stable against the previous year. Overall, smart card imports continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2008 when imports increased by X% y-o-y. In that year, smart card imports attained their peak of X units. From 2009 to 2018, the growth of smart card imports remained at a somewhat lower figure.

In value terms, smart card imports totaled $X in 2018. Overall, smart card imports continue to indicate a remarkable expansion. The pace of growth was the most pronounced in 2018 when imports increased by X% y-o-y. In that year, smart card imports attained their peak and are likely to continue its growth in the immediate term.

Imports by Country

The U.S. (X units) and China (X units) represented the largest importers of cards incorporating an electronic integrated circuit (smart card) in 2018, amounting to approx. X% and X% of total imports, respectively. It was distantly followed by India (X units), Germany (X units) and Vietnam (X units), together constituting an X% share of total imports. The Netherlands (X units), the UK (X units), France (X units), South Africa (X units), Indonesia (X units), China, Hong Kong SAR (X units) and Russia (X units) took a minor share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, the largest smart card importing markets into Cyprus were the U.S. ($X), China ($X) and Germany ($X), together comprising X% of total imports. These countries were followed by China, Hong Kong SAR, France, the UK, India, Indonesia, the Netherlands, South Africa, Russia, Vietnam and Cyprus, which together accounted for a further X the main importing countries, Indonesia experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The smart card import price in Cyprus stood at $X per unit in 2018, rising by X% against the previous year. Overall, the smart card import price continues to indicate a tangible expansion. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. In that year, the import prices for cards incorporating an electronic integrated circuit (smart card) attained their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform