China’s imports of integrated circuits declined in 2022 for the first time in almost two decades.
Imports of ICs fell 15% last year to 538.4 billion units from 635.6 billion units in 2021, according to data from General Administration of Customs released Friday. That’s the first annual drop since at least 2004 when Bloomberg started tracking the data. Imports grew 17% in 2021, 22% in 2020 and 6.6% in 2019.
China’s purchases of machines to make computer chips contracted recently amid weakening electronics demand and the US export restrictions. It’s also pausing massive investments aimed at building a chip industry to compete with the US, as a nationwide Covid resurgence strains the world’s No. 2 economy and Beijing’s finances.