Semiconductor sales grew to $27.8 billion in February, up 6.7% compared with $26 billion in February last year, according to the Semiconductor Industry Association (SIA). On a sequential basis, however, February sales declined 2.7% from $28.5 billion in January, says SIA.
“The global semiconductor industry maintained momentum in February, posting its 22nd straight month of year-to-year growth despite macroeconomic headwinds," says John Neuffer, SIA president and CEO. Sales of DRAM and analog products were especially strong, notching double digit growth over last February while the America’s market achieved its largest year-to-year sales increase in 12 months, he says.
John NeufferYear-to-year, semiconductor sales grew 17.1% in the Americas and 7.6% in Asia Pacific. However, chip sales declined 2% in Europe and 8.8% in Japan, according to the SIA.
Compared to January, February sales were down in all regions, SIA says. Sales dropped 4.4% in the Americas, 2.3% in Japan, 2.2% in Asia Pacific and 1.6% in Europe, according to the trade group.
In announcing February's semiconductor sales, Neuffer also called for passage of trade promotion authority (TPA) legislation by the U.S. Congress.
The legislation would give the President of the United States the authority to negotiate international trade agreements that Congress could not change or filibuster, but could only approve or disapprove.
Neuffer says TPA legislation would help the U.S. negotiate and finalize key trade agreements that will lower tariffs, boost U.S. exports and create jobs.
“While we are encouraged by the semiconductor market's sustained growth over the last two years, a key driver of our industry's continued success is free trade," says Neuffer. He also adds that TPA helped open markets to U.S. goods and services for decades until its expiration in 2007.
“With several important free trade agreements currently under negotiation, Congress should swiftly re-enact TPA," says Neuffer.
Questions or comments on this story? Contact peter.brown@globalspec.com
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