US economy lost $240 billion due to chip shortage

The US Semiconductor Manufacturers Association has estimated the losses to the country’s economy due to a shortage of chips. According to the results of last year, they amounted to 240 billion dollars. Some American enterprises were forced to suspend their work during the year due to the semiconductors’ shortage. Manufacturers of automobiles and equipment suffered the most. The United States government has allocated $52 billion for the national development of semiconductor manufacturing. Currently, the share of American chip manufacturers in the world production volume is approximately 12%. At the same time, 30 years ago, it accounted for 37%. The industry of the United States is dependent on supplies of semiconductors from Asian countries. The U.S. Department of Commerce previously reported that due to the shortage of chips, American enterprises are reducing their output by 10%. Stocks of semiconductors in the warehouses of companies can provide production within an average of five days.

author

About author

Arseny Kudrin

Publicist, trader

Read previous post
← Oil prices rise on expectations of the results of the OPEC+ session
Read next post
Mitsubishi Motors finished 9 months of the past year with a gain →
Get the best solution for your forex company. Please, submit the form below and we will get back to you within 24 – 48 hours.