According to a group of computer-chip manufacturers the global semiconductor market is expected to shrink in 2023 for the first time in four years, following a surge during the pandemic.

World Business Watch | Global semiconductor markets expected to shrink in 2023

Registering its second annual decline in a row Mexico's auto production fell by almost two percent last year in comparison to 2022. This is Mexico's flagship industrial sector struggling to pull past the pandemic shocks and also a global semiconductor shortage.

World Business Watch: Mexico's flagship industrial sector struggles

Taiwan's government said that global supply and demand for auto chips should reach a "balance" by the fourth quarter of 2021. Democratic US senators from Michigan and Ohio this week asked the Taiwanese government to help address the shortage, given that the island is a major semiconductor producer.

World Business Watch: Taiwan sees 'balance' in auto chip supplies by Q4

Volkswagen's Mexico unit has said it expects to restart production of several segments from next week and in July after output was curtailed by a global semiconductor chip supply crunch.

World Business Watch: Volkswagen's Mexico to resume production hit by global chip shortage

Volkswagen expects semiconductor supplies to car sector to remain tight incoming months. Ralf Brandstaetter, CEO of the Volkswagen brand and member of the carmaker's management board said "I think the situation will remain tense".

World Business Watch: Volkswagen expects chip supply to remain tight in coming months