State expects ‘substantial recovery’ in microchip sales after collapse in exports

Semiconductor exports have fallen by 42 per cent in the first five months of this year

Microchips: A spokesperson for the Department of Enterprise highlighted the “cyclical” nature of the industry “over several decades, due in part to the lag between increases in demand being met by new manufacturing capacity”. Picture: Getty

The Department of Enterprise is expecting a “substantial recovery” in microchip sales by next year, describing the current collapse in Irish exports as a “major correction cycle”.

It comes after the Business Post previously revealed that semiconductor exports have fallen by nearly half (42 per cent) to €2.5 billion in the first five months of this year, compared to €4.4 billion in same period last year.

The reduction in chip sales comes following an extraordinary ...