Semiconductors Surpass Cars as a Top U.S. Export in 2018, Remain #4 Overall Blog: 03/15/19
by Falan Yinug, Director, Industry Statistics and Economic Policy
Semiconductors remained a top U.S. export in 2018, spurring American jobs, economic growth, and innovation. According to recently released U.S. government data, U.S. semiconductor exports in 2018 totaled $44 billion, ranking fourth among all U.S. exports, following aircraft and oil (crude and refined), and surpassing automobiles for the first time since 2010. The combination of a robust domestic semiconductor manufacturing base and a large foreign market has led to semiconductors perennially ranking as one of America's leading exports.
Additionally, in 2018 the United States continued to maintain an overall semiconductor trade surplus, as well as bilateral semiconductor trade surpluses with many of its major trading partners, including China, Mexico, Canada, and Korea.
Semiconductors are a top U.S. export for a couple reasons. First, U.S. semiconductor manufacturers maintain nearly half their manufacturing base in the United States, and 19 states are home to state-of-the-art semiconductor manufacturing facilities. While the United States remains one of the most attractive locations in the world for semiconductor manufacturing, more can be done. SIA is working to optimize the tax code, increase federal investment in basic research, and create open markets for our exports to ensure semiconductor manufacturing, design, and research stay and grow in America.
To ensure semiconductors will be a top U.S. export for years to come, SIA will continue advocating policies promoting innovation and advanced manufacturing domestically and open markets abroad.
SIA - Semiconductor Industry Association published this content on 15 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 March 2019 22:23:11 UTC