Thailand Gem and Jewelry Import-Export Performance January - February 2024
Thailand’s gem and jewelry export value from January to February 2024 amounted to USD 3,031.76 million, a 57.26% increase compared to the same period of last year. The products ranked as the country’s second most important exports with a 6.59% share of Thailand’s total gross exports. Nevertheless, when deducting unwrought gold from the total export value, the actual export value of gem and jewelry was USD 1,822.18 million, a 14.78% rise year-on-year.
Unveiling the Dynamics from China to India: Significance in the Global Gem and Jewelry Market
In 2024, the global economy continues to navigate a myriad of ongoing changes that have extended from the previous year. Various factors are poised to significantly impact diverse industries, including the gem and jewelry sector. Notably, the pivotal roles played by China and India serve as crucial variables influencing both demand and supply, thereby shaping the trajectory of the market.
Thailand Gem and Jewelry Import-Export Performance January 2024
In January 2024, Thailand's gem and jewelry exports surged to USD 1,166.08 million, marking an impressive 59.09% increase compared to the same month in the previous year. These exports ranked as the country's third most significant export category, contributing 5.15% to Thailand's total gross exports. However, after deducting the value of unwrought gold from the total export figure, the true export value of gem and jewelry stood at USD 696.96 million, reflecting a notable year-on-year increase of 21.53%.
G7 Nations and Allies' Bans on Russia Diamonds: Impacts on the Global Diamond Market
Since January 2024, the G7 nations-Canada, France, Germany, Italy, Japan, United Kingdom, and the United States and the European Union have enforced bans on direct and indirect imports of diamonds from Russia to curb funding for its invasion of Ukraine. Starting March 1, 2024, the ban will extend to Russian diamonds cut and polished in third countries. A comprehensive traceability system will be implemented by September 2024. These sanctions, imposed by the G7 and their allies on Russia, the world's largest diamond producer, will pose ongoing challenges to the global diamond industry.
Thailand Gem and Jewelry Import-Export Performance January-December 2023
In 2023, Thailand experienced a 2.83% decrease in gem and jewelry exports, totaling USD 14,636.88 million. Despite ranking as the country’s third most important export category, following automobile and computer respectively, with a share of 5.14% of Thailand’s total gross exports, the actual export value, excluding unwrought gold, showed resilience with an 8.40% year-on-year increase, reaching USD 8,658.11 million. This performance highlights the sector’s adaptability and sustained strength in the face of overall export challenges.
Thailand Gem and Jewelry Import-Export Performance January-November 2023
Thailand’s gem and jewelry export value from January to November 2023 amounted to USD 13,664.59 million, a 5.73% decrease compared to the same period of last year. The products ranked as the country’s third most important exports with a 5.22% share of Thailand’s total gross exports. Nevertheless, when deducting unwrought gold from the total export value, the actual export value of gem and jewelry was USD 8,101.45 million, a 8.51% rise year-on-year.
De Beers Moving Auctions Head Office to Botswana
De Beers will relocate its auctions headquarters from Singapore to Gaborone, Botswana, amid cost-cutting efforts at the diamond miner.
India: A Clear Bright Spot for Downstream Natural Diamond Demand
De Beers will reportedly be overhauling its third-party distributed diamond brand Forevermark over the next two years. According to a letter sent to distributors and seen by the trade, Forevermark will be restructured exclusively as a diamond jewellery brand – marking a move away from branded loose diamonds.
Sourcing opportunities and market insights at JGAB 2024
The countdown has begun for Jewellery & Gem ASEAN Bangkok (JGAB) 2024, which opens its doors next week.
Citibank Sees Gold Hitting $3,000 an Ounce
Citibank analysts have predicted that gold will pass $2,500 an ounce in the second half of the year and hit $3,000 an ounce within the next six to 18 months.
Jewel Ads unveils new trade directory website
The company’s founder, Daren Daniels, says the new website is “a powerful marketing tool that allows suppliers to tell their story through captivating visuals and streamlined functionality”
Lower sales for De Beers in cycle 3
De Beers Group's rough diamond sales in the third sales cycle of 2024 dipped by 17.9 per cent year on year, owing to ongoing economic uncertainties and a lacklustre China market.
China's Soft Power: Where Jade Meets Gadgets and Life Gets Lit!
Remember Thailand and their delicious soft power smorgasbord? Well, move over, mango sticky rice, because China's got a new dish on the menu – Jade Tech Surprise! We're talking ancient craftsmanship, sleek silicon, and enough daily-life upgrades to make your fortune cookies jealous.
Factors Expected to Impact Global Diamond Demand in 2024
Even as the reverberations of the pandemic-induced fluctuations in diamond demand recede, Paul Zimnisky foresees a simultaneous reduction in the consequential ripples.
Fancy colour diamonds lead Phillips’ HK sale
Blue, yellow and orangey-pink diamonds were the stars of Phillips’ latest auction in Hong Kong, demonstrating sustained demand for exceptional fancy colour diamonds.
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