Asia’s Export Story Gets a Reboot—Tech Powers Ahead, Non-Tech Fades

Asia is witnessing a sharp divergence in export performance, with technology exports far outpacing nontech sectors. According to Nomura’s July 2025 report, the threemonth moving average for tech exports in Asia (excluding Japan) rose to 30.5% yearonyear in May, compared to just 5.7% for nontech exports. Thailand stands out with the widest gap—tech exports soared 57.5%, while nontech exports grew a modest 9.2%.

 

Key highlights:

Underlying Drivers and Risks

Outlook for H2 2025

Nomura expects the gap to widen further, with AI tech demand remaining the only bright spot. NonAI tech may slow postQ3, while nontech exports are likely to stay weak.

 

Sources: Business Times Singapore, Nomura, Thailand Now, Thai Times.