Global semiconductor sales jump amid shortage

Global semiconductor sales jump amid shortage

Global computer chip industry sales reached the highest-ever annual total of $555.9 billion last year, the Semiconductor Industry Association (SIA) reported this week. The figure represents an increase of 26.2% compared to the 2020 total of $440.4 billion.

The association went on to report that the industry shipped a record 1.15 trillion units in 2021 in response to high demand.

“In 2021, amid the ongoing global chip shortage, semiconductor companies substantially ramped up production to unprecedented levels to address persistently high demand, resulting in record chip sales and units shipped,” said SIA president and CEO John Neuffer.

SIA predicts that demand for semiconductors will “rise significantly” in the coming years, as chips become heavily embedded in the essential technologies.

Millions of products, such as cars, smartphones and washing machines, rely on computer chips.

When the coronavirus pandemic began in 2020, some tech firms started stockpiling chips or ordering them in advance, which led to many companies struggling to buy the components. As lockdowns forced millions to work from home, demand for laptops, tablets and webcams skyrocketed. At the same, labor shortages at chip factories lead to shortages worldwide.

The situation has led governments and lawmakers to work on securing the supply chain and bringing the manufacture of semiconductors closer to home, as some of the biggest chip makers are located in Asia.

Last year, US President Joe Biden pledged $50 billion for semiconductor manufacturing and research with a bill known as the CHIPS for America Act.

Earlier this month, the EU announced a new European Chips Act that will see €15 billion ($17.11 billion) of additional investments in the industry until 2030.

SIA represents 99% of the US semiconductor industry by revenue and nearly two-thirds of non-US chip firms.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

The last notes - Экономика

most read news

#Экономика

The US has held ‘encouraging’ talks with India about a price cap on Russian oil that Washington wants to introduce in order to limit Moscow’s revenues and push down global crude prices, Reuters
подробнее...

The EU is planning to increase liquefied natural gas (LNG) imports from Nigeria amid concerns that supply from Russia may be cut, according to the deputy director general of the European Commission’s
подробнее...

France has announced a takeover bid to gain full control of the country’s largest energy utility, EDF.The government has made an offer of €9.7 billion ($9.9 billion) to nationalize electricity
подробнее...

The business climate has substantially worsened in Germany, with industries feeling increasingly concerned about the coming months, according to a survey by a German think tank released on Monday.
подробнее...

The Chinese currency the yuan outperformed the euro by trading volume on the Moscow Exchange (MOEX) for the first time on record, trading data from Friday shows.According to the data, the trading
подробнее...

The Ukrainian government has moved to delay payments on foreign debt for two years, the country’s media reported on Wednesday. The restructuring will have to be approved by the creditors first, the
подробнее...

Twitter operated at a loss in the second quarter and suffered a decline in revenue from a year earlier, reflecting struggles that the company blamed partly on its pending sale to billionaire Elon
подробнее...

Cargo shipments via Russia’s Northern Sea Route in the first half of this year were 5% higher than in the same period of 2021, Russian Deputy Prime Minister Alexander Novak said on Monday.“In 2021,
подробнее...

Russia’s military operation in Ukraine and the subsequent Western sanctions on Moscow might push the global economy into geopolitical fragmentation, the IMF warned in a report published on July 26.“A
подробнее...

Russia will resume natural gas deliveries via the Nord Stream 1 pipeline as scheduled, once annual maintenance work is completed on Thursday, Reuters has reported, citing its sources.The
подробнее...

Ukraine’s state-run energy company Naftogaz has defaulted on its foreign debt, the firm announced on Tuesday.Naftogaz was unable to make payments on Eurobonds before a grace period expired, the
подробнее...

The German government and energy major Uniper are reportedly nearing an agreement under which the state will inject more than €5 billion ($5.1bn) into the business. The total commitment is likely to
подробнее...

Russian energy major Gazprom will stop the operation of second Siemens turbine, the company announced on Monday. As a result supply through the Nord Stream 1 pipeline will not exceed 33 million cubic
подробнее...

Germany may face shortages of such staples as toilet paper and cardboard if Russian gas supply dwindles in the coming months, German outlet Zeit Online reported on Wednesday.Operating paper plants may
подробнее...

The Russian Finance Ministry has announced a return to the public debt market by issuing a limited amount of OFZs, ruble-denominated sovereign bonds, in September, Deputy Finance Minister Timur
подробнее...

The EU has blocked a proposal to impose sanctions on Russian titanium producer VSMPO-AVISMA, the Wall Street Journal (WSJ) reported on Thursday.According to the report, the decision was made after
подробнее...

EU energy ministers have agreed on an unprecedented plan that will see member states voluntarily slash their gas consumption by 15% from August until next spring. The deal does come with exemptions
подробнее...

Iran’s official foreign currency exchange has listed the Russian currency and launched trading in the ruble/rial currency pair, the IRNA news agency reported on Tuesday.The listing comes ahead of
подробнее...