SAN FRANCISCO — Global chip sales sank by 15.5% sequentially in the first quarter, among the largest quarter-to-quarter declines for the industry in the last 35 years.

Chip sales totaled $96.8 billion in the first quarter, down from $114.7 billion last year, according to the World Semiconductor Trade Statistics (WSTS) organization, which pools sales data from chipmaker member companies. On a year-over-year basis, first-quarter sales were down 13% from $111.1 billion in the first quarter of 2018, according to the group.

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The three-month average of chip sales totaled $32.3 billion in March, down 1.8% from February and down 13% from March 2018, the WSTS said.

“Sales in March decreased on a year-to-year basis across all major regional markets and semiconductor product categories, consistent with the cyclical trend the global market has experienced recently,” said John Neuffer, president and CEO of the Semiconductor Industry Association (SIA) trade group.

According to market research firm IC Insights, the first quarter’s actual sales decline was more severe than the three-month moving average reported by the SIA, totalling 17.1%. The market research firm reported that this is the biggest sequential decline for the market since 2001 and the fourth-largest since 1984.

Since 1984, there have been only seven quarters in which chip sales fell by more than 10% sequentially, according to IC Insights. In each of the years that this occurred previously, the chip market declined by at least 9% for the year, the firm said.

“The first quarter is usually the weakest quarter of the year for the IC market, averaging a sequential decline of 2.1% over the past 36 years, but the severity of the 1Q19/4Q18 IC market drop has started this year off at a very low level,” IC Insights said in a statement.

Given the typical seasonality of the IC market, the chip market is likely headed toward a double-digit decline in 2019 unless the market rebounds with an abnormally strong second half of the year, IC Insights said.

China and Europe both posted small month-to-month gains in chip sales for March, but all other regions recorded declines, according the WSTS. On a year-to-year basis, sales were down across all regional markets — while Europe’s sales fell by 6.8% year to year, all other regions saw declines of larger than 9%.

Neuffer again urged U.S. legislators to enact policies that would bolster the semiconductor industry, consistent with a report that the SIA published earlier this month that offered a blueprint for sustained U.S. leadership in the semiconductor sector.

“To help foster growth and innovation in the semiconductor industry and ensure continued U.S. leadership in semiconductor technology, policymakers in Washington should enact measures that invest in scientific research, attract and retain a top technology workforce, and ensure open markets and strong protection of intellectual property,” Neuffer said.