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Fortune

Angelica Ang

The AI boom is lifting economies across Asia. But for Southeast Asia, it might just be a ‘short-term blip’

Asia SouthEast Asia United States China Malaysia Singapore ASEAN

(Credit: LINH PHAM VIA GETTY IMAGES)

The numbers in Asia just keep getting bigger and bigger.

Taiwan is on track for its first year of double-digit GDP growth since 2010, thanks to surging demand for AI hardware exports. It’s not the only economy reporting surging growth and export numbers. Japan, Malaysia, Singapore and mainland China all reported over 20% growth in exports in July. Exports from South Korea, home to chipmaking giants SK Hynix and Samsung, surged by more than 60%. Second-quarter GDP growth also beat expectations in economies like Singapore, Hong Kong and Taiwan, thanks to electronics exports.

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