South Korea’s exports jumped 68.7% in August from a year earlier. That was the 15th month of growth in a row, and AI-related products drove most of it.
The figure sits inside a wider set of August factory surveys from East Asia. China, Japan and South Korea all stayed in expansion, helped by heavy buying of microchips, computers and other AI hardware. Rising costs tied to the long war in the Middle East ate into the gains, but did not erase them.
China: private firms up, official survey down
The RatingDog China General Manufacturing PMI, compiled by S&P Global, rose to 51.5 from 50.9 in July. Anything above 50 means growth. Analysts had expected 51.
The official survey tells a different story. It still shows overall factory activity shrinking in China, a sign that the recovery is thin.
Japan: strongest orders in years
Japanese factories saw new orders grow at the fastest pace since January 2018. Chips and the goods used to build AI systems were behind it. The S&P Global manufacturing PMI moved up to 54.9 from 54.5, its highest since April and the eighth straight month of expansion.
“Overall, the sector is well positioned to maintain strong performance,” said Annabel Fiddes of S&P Global Market Intelligence, pointing to demand from industries linked to AI.
South Korea slows, but exports surge
Korean manufacturing grew for a ninth month, though more slowly. The PMI slipped to 52.3 from 53.1. Export orders carried it. David Owen of S&P Global Market Intelligence called the export jump “an encouraging sign” that companies are still gaining from the AI and semiconductor supercycle.
Elsewhere in the region
Taiwan’s PMI came in at 54.7, down from 55.1. Malaysia eased from 50.7 to 50.2 but stayed above the line. The Philippines posted the biggest gain, up from 51.8 to 54.9. Indonesia went the other way, falling to 49.8 from 50.2 and into contraction.
S&P Global’s survey results show the AI investment cycle is still propping up Asian technology exporters. High costs and geopolitical instability remain the risks to the region’s industrial recovery.
