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Import/Export Price Indexes
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Recent Price Trends in the Semiconductor Industry
An overview of Semiconductor Manufacturing price indexes
2025
U.S. Import and Export Price Indexes contain data on changes in the prices of nonmilitary goods and services traded between the United States and the world. The U.S. Bureau of Labor Statistics produces these indexes, which are Principal Federal Economic Indicators.
Q: How have import semiconductor prices trended over the 2022–2024 period? (See chart 1)
- Semiconductor manufacturing import prices declined 1.4 percent from December 2021 to December 2024. The import semiconductor manufacturing price index rose 2.4 percent in 2022 and decreased 3.8 percent in 2023. The price index remained unchanged in 2024.
- Import prices for semiconductor manufacturing peaked in July 2022 for the 3-year period ended December 2024, they were at their lowest in June 2024 and July 2024.
- Higher raw material costs contributed to the rise of semiconductor import prices in 2022. Those input costs fell in 2023, causing price decreases for import semiconductors. In 2024, the import price index for semiconductor manufacturing remained consistent, with a slight uptick in November 2024.
Q: How did import semiconductor prices compare with other economic data? (See chart 1)
- Throughout 2022, import prices for semiconductors slowly rose along with export and producer prices. Import and export semiconductor prices fell sharply in 2023, outpacing a slight drop in producer prices. Import and export prices held steady in 2024, while producer prices grew.
- The producer price index for semiconductor manufacturing increased 6.1 percent over the 3-year period from December 2021 to December 2024. The index rose 3.9 percent in 2022 before declining 0.1 percent in 2023. Producer prices advanced 2.2 percent in 2024.
Q: How have export semiconductor prices trended over the 2022–2024 period? (See chart 1)
- The export semiconductor manufacturing price index decreased 3.6 percent from December 2021 to December 2024. Export semiconductor manufacturing prices increased 1.4 percent in 2022, followed by a decline of 4.7 percent in 2023. In 2024, export semiconductor manufacturing prices decreased another 0.2 percent.
- The 2023 decline was the largest calendar-year drop since 2006, when the price index for export semiconductor manufacturing fell 5.4 percent.
Q: What are the top six exporting states and territories for semiconductor manufacturing? (See chart 2)
- In 2024, the total trade value of exported semiconductors was $70.1 billion, a 6.3 percent increase from 2023. The top 6 exporting states made up 74.2 percent of the total trade value.
- Texas and Oregon totaled $32 billion in semiconductor manufacturing exports in 2024, ranking first and second, respectively.
- California, previously ranked second for semiconductor manufacturing in 2023, dropped to third with $10.3 billion in trade dollar value of semiconductors in 2024.
Q: How are import and export price indexes useful to you?
Import and export price indexes can provide a new perspective for your trade analyses. Although many sources report domestic market prices and trade volume, IPP data are unique in measuring import and export price movement.
For example, if you are involved in the semiconductor industry and are considering conducting business overseas, IPP semiconductor manufacturing indexes can supplement your industry research by providing long-term import and export price trends.
Q: How are import and export price indexes used?
Import and export price indexes are used for a variety of purposes:
- In the conversion of U.S. trade figures from current dollars to constant dollars in U.S. trade statistics including the Bureau of Economic Analysis’ Quarterly Gross Domestic Product and the Census Bureau’s monthly U.S. trade statistics.
- To assess the impact of international trade on domestic inflation and the competitive position of the United States.
- As a tool for analyzing fiscal and monetary policy, measuring the impact of exchange rates, and escalating trade contracts.
- To identify industry-specific and global price trends.
Last Modified Date: July 18, 2025