By our economics editors
Jan 15, 2024 at 7:47 AM Update: an hour ago
Chinese imports of chips fell sharply last year. This is the strongest decline since measurements began in 2004. American export restrictions are affecting imports from the largest chip market in the world.
Moreover, the recovery of the world’s second largest economy is faltering. After the strict corona measures in China, the demand for chips is still lower than before. The chip industry worldwide is also struggling to get out of a deep valley.
The value of chips imported by China fell by more than 15 percent last year to 349.4 billion dollars (about 319 billion euros). It is the second year in a row that Chinese imports of chips have decreased. It is also the sharpest drop since Chinese customs started keeping the data.
Last year the chip market suffered another blow. The US government decided to ban the export of advanced chips that can train artificial intelligence models to China.
The American sanctions also have consequences for ASML. For example, the Dutch chip machine maker is not allowed to supply its advanced machines to Chinese companies.
The Americans do not want advanced chip technology to be exported to China. This should prevent the Chinese from using the chips for military purposes.
Image: NurPhoto
Read more about:
ChinaASMLEconomie
2024-01-15 06:47:25
#Chinese #imports #chips #fallen #hard #Economy
