Semiconductor imports in China have maintained its growth momentum in June 2021. The region noted high imports to meet the massive demand of integrated circuits (IC) of the country for the production of automobiles, smartphones, home appliances, and much more.
According to an SCMP report, China imported 51.9 billion semiconductor devices in the month of June alone. This was the third largest volume in a single month, which arrives as the region saw a record high back in March of this year. April 2021 also saw strong imports this year, as per information released by the country’s customs administration earlier this week. Notably, the high figures also arrive as local firms stocked up on semiconductors across various industries amid the ongoing global shortage of chips.
The report further added that chipsets are still the products with the largest volume of imports in China, with the country spending a total of 38 billion US Dollars to import semiconductors in June 2021. To put things into perspective, this figure was almost double the cost of the region’s crude oil shipments in the same period. Additionally, the country also imported more than 310 billion semiconductor devices in the first six months of this year.
This marked a sizeable increase of 29 percent from the same period from back in 2020. During this time, the nation increased its imports from chip foundries, especially from Taiwan, amid the global semiconductor shortage. The supply would enable the region and its local manufacturers to ramp up the production of cars, smartphones, home appliances, and various other consumer electronic products as well.
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