Thai Gem & Jewelry Industry
Colored Stone Industry
In 2017, Colored stone was the third most important export product of the gems and jewelry category with the export value of USD 1,199.16 million, a 9.34 percent share of the total export value. While the export value increased 12.41 percent from the previous year. This was the result of economic recovery in several countries such as the US, the EU, Hong Kong and Japan, which in turn, increased their import of raw materials in this category compared to the previous year.
In 2016, Thailand's export of colored stone was the fourth largest export product under the gem and jewelry category. With the export value of USD 1,066.77 million, its export accounted for a 7.49 percent share of the gross export value. Despite a 2.41 percent growth from the previous year, the growth rate was lower than that of years before due to the vulnerable recovery of the global economy.
Colored stone was the fourth most important export product of the gems and jewelry category with the export value of USD 1,041.69 million, a 9.48 percent share of the total export value. While the export value increased 13.64 percent from the previous year, it was a growth at a lower rate. This was partly due to the vulnerable economic recovery of countries such as the US, the EU and Japan. China and India's economic growths also fell short of expectations. Hence, most consumers held back spending on luxury goods, which include gem and jewelry. This led to declines in the product's import demand from major trading partners.