Chip Sales Running 20% Above 2017 Pace

emiconductor sales ran 20 percent ahead of 2017's pace through the first quarter of the year, a strong start to the year in an industry coming off record revenue, according to the Semiconductor Industry Association (SIA) trade group.

The three-month rolling average of chip sales for March totaled $37 billion, up 20 percent from March 2017 and up nearly 1 percent compared with February, according to the SIA, which reports sales data compiled by the World Semiconductor Trade Statistics (WSTS) organization.

"Sales in March increased year-to-year for the 20th consecutive month," said said John Neuffer, SIA president and CEO, in a press statement. "All regional markets experienced double-digit growth compared to last year, and all major semiconductor product categories experienced year-to-year growth, with memory products continuing to lead the way."

Through the first quarter, total worldwide semiconductor sales totaled $111.1 billion, up 20 percent from the first quarter sales in 2017.

March sales were ahead of 2017's pace across all major regions, with growth strongest in the Americas, where sales were up 35.7 percent compared to March 2017, and Europe, were sales were up by 20.6 percent compared with March 2017. Sales also increased on a sequential basis across all regions expect the Americas, which declined by 2 percent, according to the WSTS, an organization made up of more than 50 semiconductor companies that pool sales data.