Trade Analysis
Thailand’s Gem and Jewelry Export in the First Quarter of 2017
Thailand's gem and jewelry export from January to March 2017 decreased by 21.03% from the same period in 2016 at 4,722 million US dollars to 3,728.99 million US dollars. Gem and jewelry was the third most important export product, accounting for 6.61% of Thailand's overall export. The export value was in decline due to a significant drop of 37.67% in unwrought or semi-manufactured gold, which represented almost half of the export in this category. Additionally, other major products, including diamond and costume jewelry, were faced with declining growth. If unwrought gold is excluded, gem and jewelry export value would be at 2,020.92 million US dollars, increasing from the first quarter of the previous year by 1.98%.
Thailand’s Gem and Jewelry Import-Export Performance 2016
Thailand's overall export value of gem and jewelry products earned a 29.60 percent increase. A decline of 12.90 percent was seen in the products' overall import value. Unwrought or semi-manufactured gold still secured its position as the primary product for export and import. However, a 3.03 percent decrease from the previous year was witnessed in Thailand's export value of gem and jewelry excluding unwrought or semi-manufactured gold. Despite the drop, the export value of 2017 is expected to increase from that of 2016 owing to positive factors. Economic stimulus policies of large powerhouse countries like the US and China are likely to stimulate the global economy's growth. The EU and Japan economy has also been improving since late 2016. Furthermore, Thailand's government has implemented measures to lift Thai entrepreneurs' competitiveness. However, there are also negative factors from uncertainty regarding policies of the new US president, which may affect stability of the global economy and currency exchange rates. The EU's political situation and terrorist threats may also restrain confidence for consumption of luxury goods like gem and jewelry products.
Thailand’s Gem and Jewelry Export Performance (Jan-Sep, 2016)
Thailand's export value of gem and jewelry products reached USD 11,654.57 million. It was a 35.52 percent growth from the export value of the same period in 2015 of USD 8,600.04 million. The favorable growth was resulted from a 1.05-fold growth of unwrought gold, accounting for more than half of the total export value. Hence, excluding unwrought gold export value, the export value of gem and jewelry stood at USD 5,473.62 million, a 2 percent drop from the first 9 months of the previous year.
Thailand’s Gem and Jewelry Export Performance (Jan-Jun, 2016)
Thailand's gem and jewelry exports in terms of value from January to June 2016 increased 53.26 percent from USD 5,333.80 million in the same period last year to USD 8,174.46 million.
