THURSDAY, February 29, 2024
nationthailand

Thai gems and jewellery exports up in 2021 as key markets recover

Thai gems and jewellery exports up in 2021 as key markets recover

Exports of gems and jewellery, excluding gold, in December 2021 were worth US$587.16 million, up 29.33 per cent year on year. 
Total exports for 2021 (January to December), excluding gold, were worth $6.158 billion, increasing 26.94 per cent compared to 2020.

However, including gold, the exports were worth $10.04 billion, down 44.79 per cent year on year.

One of the key factors behind the increased demand was the recovery of key markets, with the US being the number one export market, up 51.29 per cent, followed by Hong Kong 0.78 per cent, India 60.65 per cent, Germany 1.70 per cent, United Kingdom 134.66 per cent, Belgium 21.23 per cent, Japan 6.49 per cent, United Arab Emirates 29.82 per cent, Australia 10.71 per cent and Switzerland 70.43 per cent.

Major products exported increased, such as silver jewellery 21.71 per cent, gold jewellery 31.75 per cent, platinum jewellery 51.89 per cent, polished diamonds 35.11 per cent, sapphires 17.35 per cent, polished hard gems 38.51 per cent, polished soft gems 0.74 per cent, artificial jewellery 9.70 per cent, silver 24.14 per cent, while gold, which used to be a speculative export when gold prices rose, was down 70.88 per cent.

The outlook for exports in 2022 is expected to continue to recover since the world economy has begun to recover from the impact of Covid-19. The economic activities of many countries have continued to expand since March 2021, and many countries have adjusted their policies to return to normal state.

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