Thailand’s gem and jewellery export sector reported substantial growth, with the total export value reaching approximately USD 2.90 billion, marking a 148.87% increase compared to the same period in the previous year.
Gold exports were a major contributor to this surge, amounting to USD 1.17 billion, a 148.95% rise from January 2024. The average gold price during this period was USD 2,709.69 per ounce, leading to increased speculative trading.
Platinum exports also saw remarkable growth, totaling USD 967.29 million—a 452,751.32% increase—primarily due to expanded trade with India.
The United States and China were significant markets for Thailand’s exports in January. Strong demand from these countries, coupled with stable inflation and rising manufacturing activity, contributed to the export expansion.
Other product categories, such as gold and silver jewellery, experienced growth of 6.54% and 8.46%, respectively, while platinum jewellery exports increased by 38.16%. Rough and polished gemstones also saw growth, attributed to investment purchases. However, diamond exports declined due to reduced demand in key markets like Hong Kong and Belgium.
Sumed Prasongpongchai, Director of the Gem and Jewelry Institute of Thailand (GIT), expressed optimism about the sector’s performance in the first quarter, citing seasonal festivities and major international trade shows as contributing factors. However, he cautioned that evolving trade policies and ongoing geopolitical conflicts could present challenges to the industry.
For 2025, jewellery trends are expected to include brightly colored gemstones in pastel shades, layered necklaces and bracelets, and mixed precious metals. There is also a growing emphasis on ethical, sustainable, and transparent sourcing, reflecting evolving consumer preferences.
The GIT anticipates continued strong growth throughout the first quarter, particularly in gold exports.
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