China's Integrated Circuit Exports Grow By 21.2% Year-Over-Year From January To May
Jun 11, 2024
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- The General Administration of Customs of China published data on June 7th, 2024, indicating that China imported 45.65 billion integrated circuits valued at 30.926 billion US dollars in May 2024. The cumulative import of integrated circuits from January to May was 148.057 billion US dollars, a 13.1% year-over-year rise, or 213.65 billion yuan, a 14.9% year-over-year increase.
- China shipped 25.27 billion integrated circuits valued at $12.634 billion US dollars in May, in contrast. With a cumulative export of 62.613 billion US dollars, up 21.2% year over year, the total export volume from January to May was 113.94 billion units, a 10.5% year over year grow.
According to a report by Guolian Securities on June 1st, China's semiconductor sales account for approximately 30% of the world's total. This proportion has been steadily increasing, reaching 30.8% in March. The total import and export value of integrated circuits in China is also increasing. Analysts point out that due to the continuous diversification of downstream applications in the domestic semiconductor industry, the import and export ratio of integrated circuits in China is expected to increase. This may increase the revenue share of domestic contract manufacturing enterprises.
These figures demonstrate China's expanding sway over the world semiconductor sector. China's semiconductor industry has to grow independently, especially given the current state of international uncertainty. Even though China still imports a lot, ongoing technical advancements and supply chain enhancements should increase China's future self-sufficiency. This will help domestic businesses grow quickly and innovate more, while also bolstering China's standing in the global technological race.
- At XRS company, we are proud to contribute to this progress. We actively take part in the worldwide sales of chips and other items that contain electronic components. devoted to fostering the growth of the sector. In addition, we have distinguished ourselves from the competition with our tailored, affordable quotes and professional BOM services. From the standpoint of the client, we work hard to satisfy each and every one of them. From the perspective of global progress, we hope to advance semiconductor technology through continuous efforts.
