GIT Information Center

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.

Thailand’s gem and jewelry export value of January-March 2023 slid 24.81 percent from the value of USD 5,486.78 million in the same period of last year to USD 4,125.38 million. Export value of Thai gem and jewelry products (excluding gold) of January-March 2023 increased due to positive impacts such as Thai baht value which was favorable for export and positive trend of purchasing power in several major trading partner countries.

Thailand’s gem and jewelry export excluding the export value of unwrought gold, the actual export value of gem and jewelry products was at USD 1,586.23 million, a 36.86 percent jump from the same period of the previous year. The Global Manufacturing PMI stood at 52.1, moving up 2.4 points because of the alleviated pressure of raw material costs. Moreover, inflation has passed its peak.

Thailand’s gem and jewelry export value of January 2023 declined 4.51 percent from the value of USD 767.54 million in the same period of last year to USD 732.92 million. Accounting for a 3.62 percent share of the country’s gross exports, the products were listed as Thailand’s fifth most significant exports. However, excluding the export value of unwrought gold, the actual export value of gem and jewelry products was at USD 573.45 million, a slight decrease of 1.19 percent from last year.

Thailand’ gem and jewelry export value of 2022 increased 49.82 percent. However, the export value without gold export only rose 29.54 percent. The increase was influenced by continual purchase orders during the first 9 months as the global economy had recovered from the pandemic and economic activities in supply chains of many countries had returned to normal.

Thailand’s gem and jewelry export value from January to November 2022 climbed 57.24 percent from the value of USD 9,215.12 million in the same period of the previous year to USD 14,489.54 million. Export value of Thai gem and jewelry products escalated following growths in export to key markets around the world. In addition, continual spending season from late 2022 to early 2023 were also another supportive factor, boosting continuous purchasing orders from trade partner countries.

Thailand’s gem and jewelry export value from January to October 2022 hiked 66.50 percent from the value of USD 8,180.93 million in the same period of last year to USD 13,620.86 million. Continual growths were seen in Thailand’s overall gem and jewelry export despite weakening from September due to economic downtrends in trading partner countries.