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Import/Export Price Indexes
Bureau of Labor Statistics > Import/Export Price Indexes > Home

Recent Price Trends in the Semiconductor Industry

An overview of Semiconductor Manufacturing price indexes

2024

Computer chip

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 2021–2023 period? (See chart 1)

  • Semiconductor manufacturing import prices advanced 3.4 percent from December 2020 to December 2023. The import semiconductor manufacturing price index rose 4.9 percent in 2021 and increased a further 2.4 percent in 2022. The price index fell 3.8 percent in 2023.
  • Import prices for semiconductor manufacturing began at a low point in December 2020 for the 3-year period ended December 2023, then peaked in July 2022.
  • Import prices for semiconductor manufacturing increased throughout 2021 due to strained supply chains and heightened demand during the Covid-19 pandemic. 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.

Q: How did import semiconductor prices compare with other economic data?

  • In 2021, import prices increased at a faster rate than both export and producer prices. Throughout 2022, import prices for semiconductors continued to rise along with export and producer prices. Import and export semiconductor prices fell sharply in 2023, outpacing a slight drop in producer prices.
  • The producer price index for semiconductor manufacturing increased 6.4 percent over the 3-year period from December 2020 to December 2023. The index rose 2.4 percent in 2021 before advancing 3.9 percent in 2022. Producer prices declined 0.1 percent in 2023.

Q: How have export semiconductor prices trended over the 2021–2023 period? (See chart 1)

  • The export semiconductor manufacturing price index decreased 1.5 percent from December 2020 to December 2023. Export semiconductor manufacturing prices increased 1.9 percent in 2021, followed by a 1.4-percent advance in 2022. In 2023, export semiconductor manufacturing prices decreased 4.7 percent.
  • The 2023 decline was the largest calendar-year drop since 2006, when the price index for export semiconductor manufacturing fell 5.4 percent.
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Q: What are the top six exporting states and territories for semiconductor manufacturing? (See chart 2)

  • In 2023, the total trade value of exported semiconductors was $65.9 billion, a 12.5 percent decrease from 2022. The top 6 exporting states made up 71.0 percent of the total trade value.
  • Texas and California totaled $30.9 billion in semiconductor manufacturing exports in 2023, ranking first and second, respectively, among the United States.
  • Oregon ranked third with $7.2 billion in trade dollar value, making up 10.9 percent of total export trade value of semiconductors in 2023.
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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 19, 2024