Smart cards market in Spain

Earlier Report Observations

Between 2018 and 2024, the smart card market in Spain showed considerable volatility with an overall upward trend. The market opened at 241.4 million USD in 2018, then contracted sharply to 193.4 million USD in 2019, which represented the lowest point in the period.

A strong recovery followed in 2020, pushing the market to 290.8 million USD. Growth continued, reaching a peak of 325.6 million USD in 2022. After a decline to 269.2 million USD in 2023, the market rebounded to 318.5 million USD in 2024, resulting in an overall growth of approximately 32% over the seven years.

Production smart cards in Spain

In value, 2017-2020, M $ US

In 2020, Spain's smart card production was valued at 300.1 million US dollars, marking a significant 31.2% increase compared to the previous year. Looking at the broader period from 2017 to 2020, production surged by 86.4%, which translates to an average annual growth rate of 23.1%. The most notable decline occurred in 2019, with a drop of 3.1%, while the strongest growth was recorded in 2018 at 46.7%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, M unit

The market exhibited volatility throughout the observed period. Import levels varied significantly, with a 1.7-fold difference between the peak in 2018 and the low in 2017. In 2020, Spain produced 208.6 million units of smart cards, showing a slight contraction of 2.2% compared to 2019. The highest production volume was achieved in 2018 at 225.0 million units. The most substantial decline occurred in 2019, falling by 5.2%, while the largest increase was in 2018, rising by 71.9%.

Annual dynamics of production in Spain in kind, 2017-2020, M unit

Exports smart cards from Spain

Exports in kind, M unit

Following two consecutive years of growth, Spain's smart card export volumes declined. In 2020, exports totaled 211.5 million units, down by 47.4% compared to 2019. Over the period from 2017 to 2020, exports increased by 11.6%, with a compound annual growth rate of 3.7%. The peak export volume was recorded in 2019 at 401.8 million units. The most significant increase occurred in 2018, rising by 65.0%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, M unit

From 2017 to 2020, Sri Lanka, Germany, and Morocco were key buyers of smart cards from Spain, accounting for 14.6%, 11.7%, and 10.9% of exports in kind, respectively. However, their combined share reached only 37.1% of total exports in kind, with the remaining 62.9% distributed among numerous other trading partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

The data shows irregular fluctuations, reflecting a volatile market environment. Exports reached their lowest point in 2017 and peaked in 2019, with a 2.6-fold difference between these years. In 2020, smart card shipments from Spain abroad stood at 108.6 million US dollars, representing a dramatic decrease of 31.9% compared to 2019. The maximum value was recorded in 2019 at 159.4 million US dollars. The largest increase occurred in 2018, rising by 80.2%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

Between 2017 and 2020, exports in value terms were spread across a diverse set of partner countries. Germany, the United Kingdom, and France accounted for 18.2%, 16.0%, and 9.1% of exports in value terms, respectively, but together they represented just 43.4% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports smart cards to Spain

Imports in kind, M unit

After two years of growth, Spain's smart card import volumes declined. In 2020, imports totaled 250.0 million units, showing a steep decrease of 47.1% compared to 2019. Over the period from 2017 to 2020, imports decreased by 12.1%, equating to an average annual decline of 4.2%. The peak import volume was recorded in 2019 at 472.6 million units. The largest increase occurred in 2018, rising by 62.3%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, M unit

From 2017 to 2020, China, Europe (not elsewhere specified), and Hong Kong were the main sources in the geographical breakdown of smart card imports to Spain, accounting for 25.6%, 18.8%, and 10.7% of imports in kind, respectively. Their combined share represented 55.1% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Following two years of growth, Spain's smart card import volume declined. In 2020, imports reached 99.3 million US dollars, marking a substantial decrease of 19.9% compared to 2019. Over the period from 2017 to 2020, imports increased by 15.5%, which translates to an average annual growth rate of 4.9%. The maximum value was recorded in 2019 at 124.0 million US dollars. The largest increase occurred in 2018, rising by 33.6%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

Between 2017 and 2020, China, France, and Andorra formed the main cluster of markets for smart card imports in value terms, accounting for 23.5%, 17.0%, and 14.9% of imports in value terms, respectively. Their combined share represented 55.4% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020