Thailand’s gem and jewellery exports projected to grow well in 2022

Illustration. (Photo: AFP/VNA)

Bangkok (VNA) - Thailand's gem and jewellery exports are expected to grow better than expected this year despite increasing challenges, reported the Bangkok Post.

According to Sumeth Prasongphongchai, director of the Gem and Jewelry Institute of Thailand (GIT), the industry is more active this year, driven by accelerated demand and investment expansion of gemstone and diamond mines to refill stocks which significantly declined during the COVID-19 pandemic over the past two years.

The outstanding products for export are silver, gold jewellery, artificial cut diamonds, and hard and soft gemstones.

Sumeth said the exports are expected to outstrip a 20% projection for 2022 made earlier this year.

Last year, the nation’s gem and jewellery export value, excluding gold, rose by 26.9% over the previous year to reach 6.16 billion USD. When including gold, which is volatile, the figure decreased by 44.8% annually to 10 billion USD./.

VNA