China's April semiconductor equipment imports slide 3% as category performance diverges

China's imports of semiconductor equipment fell 3% year-over-year to $3.8 billion in April 2026, driven by a sharp month-on-month drop and uneven performance across equipment categories. Front-end gear accounted for most spending, but lithography imports plunged while deposition and process control rose. Year-to-date totals point to continued weakness across several segments, according to customs data analyzed by Bank of America.

Key Points

China's semiconductor equipment imports were $3.8 billion in April 2026, down 3% year-over-year and 16% from March.
Front-end equipment dominated April imports at $2.7 billion; lithography fell sharply while deposition and process control increased.
Year-to-date imports are down across multiple categories, with front-end imports down 13% and assembly and packaging down 17%.

Overview

Customs figures reviewed by Bank of America indicate China imported $3.8 billion of semiconductor equipment in April 2026, a 3% decline compared with April 2025. The April total was 16% lower than March and leaves year-to-date imports down 12% for 2026.

Short- and longer-term context

Although April's outturn was above the most recent three-month average of $3.5 billion, it remained below the 12-month average of $4.5 billion, signaling that monthly volatility is producing readings beneath year-long norms.

Front-end equipment details

Front-end equipment accounted for $2.7 billion of April imports, a 3% drop year-over-year and a 12% decline from March. Within front-end categories:

Lithography equipment imports fell 60% year-over-year to $142 million.
Etching equipment declined 28% to $506 million.
Deposition equipment rose 36% year-over-year to $868 million.
Ion implanters increased 20% to $189 million.
Process control equipment climbed 18% to $385 million.

On a year-to-date basis, front-end imports sum to $10 billion, a 13% reduction compared with the same period in 2025. Breaking that down for the year to date: lithography imports are down 27% to $1.8 billion, process control is down 22% to $1.1 billion, and etching is down 15% to $2 billion.

Back-end and other equipment

Assembly and packaging equipment imports were $306 million in April, representing a 20% decline from both April 2025 and from March 2026. Year-to-date, assembly and packaging imports have fallen 17% to $1.2 billion.

Flat panel display equipment imports increased 65% year-over-year to $194 million in April, though they were down 52% compared with March. Wafer manufacturing equipment rose 21% year-over-year to $125 million in April.

Market footprint

The data note that China represented 33.5% of global wafer fabrication equipment spending in 2025.

Implications

April's numbers show a mix of declines and gains across equipment types, with notable weakness in lithography and etching alongside stronger readings for deposition and process control. The month-to-month drop and the year-to-date declines suggest near-term softness in China equipment demand as reflected in customs flows.

Risks

Ongoing month-to-month volatility could continue to depress short-term import totals and complicate planning for equipment vendors - impacts suppliers and capital equipment manufacturers.
Concentrated declines in key categories such as lithography and etching may signal uneven capital spending by fabs, creating risk for vendors dependent on those segments - impacts lithography and etch equipment makers and their supply chains.
A widening gap between recent monthly averages and the 12-month average suggests uncertainty in demand trajectory, which could affect production scheduling and inventory decisions across the semiconductor equipment ecosystem - impacts fabs, equipment makers and materials suppliers.

Menu

China's April semiconductor equipment imports slide 3% as category performance diverges

Key Points

Risks

More from Stock Markets