Trade Analysis

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.

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.

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%.

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’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.

Thailand’s gem and jewelry export value from January to October 2023 amounted to USD 12,705.21 million, a 6.76% decrease compared to the same period of last year. The products ranked as the country’s third most important exports with a 5.37% 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 7,391.86 million, a 9.05% rise year-on-year.

Thailand’s gem and jewelry export value from January to September 2023 amounted to USD 11,128.29 million, a 10.44% 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 6,643.65 million, a 9.09% rise year-on-year.

Thailand’s gem and jewelry export value of January-August 2023 contracted by 17.55 percent from the value of USD 10,880.15 million in the same period of last year to USD 8,970.33 million. The products were ranked as the country’s third most important exports with a 4.78 percent share of Thailand’s gross exports. Nevertheless, without the export value of unwrought gold, the actual export value of gem and jewelry products was USD 5,357.56 million, a 5.47 percent rise year-on-year.

Thailand’s gem and jewelry export value of January-July 2023 fell 16.47 percent from the value of USD 9,779.58 million in the same period of last year. However, export value of Thai gem and jewelry products (excluding gold) of January-July 2023 increased due to positive factors, which led to the rise of the sector’s PMI and consumer confidence in leading economic countries.

Thailand’s gem and jewelry export value of January-June 2023 went down 15.52 percent from the value of USD 8,714.33 million in the same period of the previous year to USD 7,361.65 million. Export value of Thai gem and jewelry products (excluding gold) of January-June 2023 climbed owing to several positive factors, for instance, major’s trading partner countries’ economic recovery, particularly in service and tourism sector.

The value of gem and jewelry products (excluding gold) of January-May 2023 was 3,461.38 million, a 5.24 percent gain from the same period of the previous year. Export value of Thai gem and jewelry products rose due to various favorable factors, for instance, Thai baht’s exchange rates, which were supportive for export; economic recovery of trading partner countries in the eurozone, and the strong growth of everyday jewelry products, particularly gold jewelry pieces which can be used as jewelry and kept for investment.

The export value of gem and jewelry products (excluding gold) of January-April 2023 was at USD 2,667.22 million, a 5.35 percent growth from the same period of the previous year. Export value of Thai gem and jewelry products gained owing to several factors such as return of gem and jewelry shows in many countries; Thai baht’s exchange rates, which were favorable for export; and constantly recovering economy of many countries.

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