China’s Semiconductors Import Surge by 36.6% in US Market; US has a Negative Trade Balance

Growth in U.S. semiconductor device imports between Nov. 22-23 was primarily attributed to increases in imports from China which increased by 36.6%.

Introduction:

Semiconductor devices remain pivotal components in the global technological landscape, driving innovation and powering various industries. US plays a central role in semiconductor trade, both as a major exporter and importer. In this blog post, we will delve deeper into the latest statistics on U.S. semiconductors device trade, examining export and import trends, key destinations, and notable growth areas including China.

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US Semiconductor Export Trends:

In November 2023, the United States exported semiconductor devices worth $653 million, reflecting a 5.01% increase from the previous year. Despite this growth, the U.S. faced a negative trade balance of $1.43 billion, highlighting the significant gap between exports and imports.

Key Destinations for US Semiconductor Exports:

In November 2023, U.S. semiconductors devices were primarily exported to the following destinations:

  1. Mexico: $128 million
  2. China: $70.7 million
  3. Thailand: $57.1 million
  4. Spain: $53.2 million
  5. Malaysia: $50.1 million

These countries represent crucial markets for U.S. semiconductor exports, with Mexico and China leading in terms of value. The diversity of destinations underscores the global demand for U.S. semiconductor technology.

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Fastest Growing US Semiconductor Export Markets:

The growth in U.S. semiconductor device exports between November 2022 and November 2023 was primarily driven by increases in exports to:

  1. Malaysia: $34.4 million (112%)
  2. Mexico: $32.8 million (37%)
  3. Ireland: $20.7 million (596%)

These significant increases highlight the expanding market reach of U.S. semiconductor products, particularly in Southeast Asia and Europe.

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US Semiconductors Import Trends:

In November 2023, the United States imported semiconductor devices totaling $2.09 billion, marking a 15.3% increase from the previous year. The substantial rise in imports further widened the trade deficit in semiconductor devices.

Key Suppliers to the US Semiconductors :

The primary countries from which the United States imported semiconductor devices in November 2023 were:

  1. Vietnam: $413 million
  2. Thailand: $404 million
  3. Malaysia: $338 million
  4. Cambodia: $176 million
  5. Taiwan: $116 million

Vietnam and Thailand emerged as major suppliers, reflecting the importance of Southeast Asia in the global semiconductor supply chain.

Fastest Growing Import Markets for US Semiconductors:

The growth in U.S. semiconductor device imports between November 2022 and November 2023 was primarily attributed to increases in imports from:

  1. China: $36.6 million (64.6%)
  2. Taiwan: $36.2 million (108%)
  3. Israel: $26.5 million (560%)

These notable increases highlight the shifting dynamics of semiconductor sourcing, with China and Taiwan playing increasingly significant roles in supplying semiconductor devices to the United States.

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Conclusion:

The U.S. semiconductor device trade landscape continues to evolve, driven by changing market demands, technological advancements, and global economic dynamics. Understanding these trends is crucial for stakeholders across industries to navigate the complexities of the semiconductor market effectively and capitalize on emerging opportunities.

Reference: OEC

Editorial Team
Editorial Team
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