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Thailand Gem and Jewelry Import-Export Performance January - May 2024
Thailand’s gem and jewelry export value of January- May 2024 went down by 1.70 percent from the value of USD 6,433.63 million last year to USD 6,324.15 million. The products were listed as Thailand’s third most important exports with a 5.25 percent share of the country’s gross exports. However, without the export value of unwrought gold, the actual export value of gem and jewelry products was USD 3,851.79 million, a 11.24 percent rise from the same period of last year.
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Thailand Gem and Jewelry Import-Export Performance January - April 2024
Thailand’s gem and jewelry export value of January-April 2024 fell by 8.83 percent from the value of USD 5,392.07 million last year to USD 4,915.74 million. However, without the export value of unwrought gold, the actual export value of gem and jewelry products was USD 3,025.71 million, a 13.39 percent rise from the same period of last year. Because of the key export markets has expanded in line with the global manufacturing sector’s growth sign.
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Thailand Gem and Jewelry Import-Export Performance January - March 2024
Thailand’s gem and jewelry export value from January to March 2024 amounted to USD 4,115.13 million, a 0.28% decrease compared to the same period of last year. The products ranked as the country’s third most important exports with a 5.80% 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 2,513.73 million, a 13.36% rise year-on-year.
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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.
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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.
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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.
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Dimexon swaps to solar power at India manufacturing site
Diamond jewellery manufacturer reduced reliance on national grid by 75%
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JGW 2024 to highlight sustainability, allure of pearls
This year’s edition of Jewellery & Gem WORLD Hong Kong (JGW) – the biggest B2B fine jewellery event in the world – will shine the spotlight on sustainability and the enduring magic of pearls.
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De Beers Receives Cash Infusion Amid Production Cuts
De Beers’ depleted coffers just received a much-needed boost with the sale of some Australian iron ore royalty rights for $150 million.
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Wordplay: Diamond jewellery retailer changes terminology
The world’s largest diamond jewellery retailer is no longer using the term ‘recycled gold’.
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Zambian emerald auction rakes in US$32.5M
Grizzly Mining Ltd reported robust demand for Zambian emeralds at its latest auction in Dubai, which generated overall revenues of US$32.5 million.
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Money laundering & jewellery: Australia’s diamond-studded headache
Australia’s financial intelligence agency is increasingly concerned with the use of luxury jewellery and watches as a means for money laundering.
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Asian Star’s Full-Year Revenue Falters
Revenue at Mumbai-based diamond and jewelry manufacturer Asian Star fell 21% in the past fiscal year.
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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.
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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.
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