Highlight Articles

Top stories in Gem and Jewelry market

GIT Information Center

Expand Opportunities in Global Market with Gem and Jewelry Trading Platforms

E-commerce has been booming all over the world throughout the pandemic. Lockdowns and store closures have caused a rapid growth in online shopping. Online Gem and jewelry trading platforms, which have broadened distribution channels to consumers around the world, are the following 5 platform.

GIT Information Center

Thailand Gem and Jewelry Import-Export Performance January-August 2022

Thailand’s gem and jewelry export value from January to August 2022 surged 69.26 percent from the value of USD 6,426.34 million in the same period of last year to USD 10,877.29 million. Consistent growths were seen in Thailand’s overall gem and jewelry export similar to the country’s key exports. Private sectors’ consumption still grew. Moreover, the increase in number of tourists, following eased international travel restrictions, boosted spending on products apart from consumer goods.

Metaverse is the technology designed to connect the real and the virtual worlds. Each virtual world offers an opportunity for businesses or brands to advertise, organize events, launch campaigns, as well as design and sell non-fungible token (NFT) products. It offers new options for gaining revenue, raising brand awareness as well as establishing close relationships with customers.

In the present, Gemstones an important export product of Thailand and establishing its status as the world’s major gem and jewelry center. The name Chanthaburi is well known in the colored gemstone industry, if it is not because Sammuang Kaewwaen invented the heat treatment, Chanthaburi might not be one of the world’s most important gemstone trading centers as it is today. Can read his legacy in this article

With the economic fluctuation during the past two years, the investment trend is heading towards an increasing variety of alternative assets. Now the new trending digital asset called NFT is gaining interest from people around the world. Selling NFTs is one of the options chosen by professional and amateur artists as the main channel to approach their targets, where their works can be displayed and sold directly without the help of physical exhibiting venues. Thus, the NFT platform has become a practical solution during the covid-19 pandemic, resulting in its rapid growth.

Entrepreneurs have accelerated adaptations during the pandemic by exploring new trade channels and modifying company strategy to take advantage of opportunities presented by digital technology. As people’ perspectives and way of living have changed after the pandemic, the technologies have increasingly played a vital role in society and lifestyles. Such movement has brought about the Next Normal living trends, which began to expand widely and become influential to future life and economy.

Throughout 2021, global economy in general has been recovering, it could be said that 2021 is the beginning of recovery and anticipation. Thus, choosing suitable technology is essential. Moreover, growing number of digital natives who are becoming dominant buyers in online market has driven brands to shift their focus more toward marketing to the groups. What's the content As can be read in the article.

Big 4 gemstones consist of diamonds, rubies, sapphires, and emeralds. They remain the most sought-after among all gemstones. People generally buy them as heirlooms, wedding gifts, and for long term speculation, consumption of the Big 4 gemstones in 2022 has been gradually recovering owing to purchasing power of the world’s key gemstone consumer markets, which are the US, Europe, China, and India.

Nowadays, consumers are more alert to environmental problems, they are willing to pay more for environmentally friendly products. Jewelry entrepreneurs need to adjust on choosing materials and production that do not adversely affect the environment. The new generations in the US and Europe are the main markets that focus on environmentally friendly products.

The rise of senior population brought about the new economic system called “Silver Economy,” which is related to activities that cater to the elderly’s needs and demands. The YOLD as one of the world’s highest purchasing-power consumers, the elderly is an emerging market which will contribute greatly to the global economy in the coming years, with their spending oriented towards vacation, beauty care, healthcare and other premium products and services, including gems and jewelry.

Formerly, driving economy by responding to consumption used linear economy structure, which consumes the most resources to manufacture the highest volume of products and services. Linear economy affects the world as it causes waste and pollution problems. These circumstances have led to a reconsideration of a concept in creating a balance by pushing circular economy

In the world where sustainability becomes a critical issue, ethical consumption can be achieved in part by knowing the journey of the product you are buying. Even more so, the appreciation for the sweats shed in the process may even increase the value of the product itself. Thailand is a small country in the world of business, but when it comes to producing these lustrous objects, the country is a hidden gem. They pride themselves over the long history of uniquely handcrafted artisans found everywhere from temples to theatres. Similarly, their distinguishing aspect in the gem and jewelry industry is the incomparable level of expertise in processing rough colored gemstones. The skill is supported by cutting-edge technologies that provide standards and knowledge. In addition, The Gem and Jewelry Institute of Thailand, or GIT, has been promoting sustainability in the country’s gem and jewelry ecosystem via various means. Together, this results in high quality products with competitive prices from transparent sources.

Gem and jewelry industry is one of the industries contributing to air pollution throughout its supply chain from material sources to delivery of finished products to consumers. Most of the production cycles creating high carbon footprint are of gem and precious metal mining as well as manufacturing processes to create jewelry. Inevitably, carbon dioxide is released into environment through these processes. Nowadays, many companies in the industry have increasingly given priority to environmental issues. With the goal to decrease greenhouse gas emissions, manufacturing processes have been adjusted to employ green renewable energy.

Establishing Gem and Jewelry Business in Thailand

Gem and jewelry industry generates an average revenue of nearly one trillion baht to Thailand. The industry employs more than 1 million workers throughout its supply chain. Thailand has an advantage of being a source with constant inflow of diversified raw materials from producing countries. Furthermore, Thai diamond and colored stone lapidaries and jewelry craftsmen are highly regarded in the international markets. Therefore, Thai gem and jewelry products have been globally renowned in the global market. Consequently, both Thai and foreign operators have been drawn to establish their gem and jewelry businesses in Thailand.

Thailand’s Import and Export Procedures for Gem and Jewelry

The importer must submit the import entry declaration and other related documents to the customs officer at the port of entry for customs clearance. The entire process, including duty payment, is now in the digital system and can be done by the importer, by a shipping agent or through a service counter.

We uses cookies to improve website performance. You can learn more about the use of cookies at Cookie Policy   Setting Accept

140 ITF Tower Building, 4th Floor,<br> Silom Road, Suriyawong, Bangrak, <br>Bangkok10500, Thailand
Phone: (662) 634-4999 ext 444
Fax: (662) 634-4970