Thailand’s gem and jewellery exports rise sharply
The value of Thailand's gems and jewellery exports was 351 billion baht (11.45 billion USD) in the first eight months of 2019, up 45.8 percent year on year.
Illustrative image (Source: www.bangkokpost.com)Bangkok (VNA) - The value of Thailand's gems and jewellery exports was 351 billion baht (11.45 billion USD) in the first eight months of 2019, up 45.8 percent year on year.
Of the exports, gold alone accounted for 6.21 billion USD, recording an increase of 107.1 percent year on year, local media reported on October 3.
Southeast Asia has been the biggest market for gems and jewellery from Thailand. Export of gems and jewellery to Singapore has risen 307 percent, to Cambodia 137 percent, and to India by 84.1 percent, because the Indian middle-class has higher buying power.
However, exports to other markets such as Hong Kong, the European Union and the US have dropped.
Deputy Minister of Commerce Weerasak Wangsuphakijkosol said the export of gems and jewellery is the third biggest earner for the country, and growth in this industry has benefited the Thai economy.
Thailand has become Asia's third largest hub after China and Japan for gold trading. The country’s gold bullion exports in July surged 400 percent from the previous month and were up 7.3 percent from the same period last year./.
You should also see
Prime Minister receives ASEAN Secretary-General
Prime Minister Pham Minh Chinh on April 23 hosted a reception for ASEAN Secretary-General Kao Kim Hourn who is paying a working trip to Vietnam and attending the ASEAN Future Forum (AFF) 2024 from April 21-24.
See more
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
World
Indonesia lifts tsunami alert given after Ruang volcano’s eruption
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
World
Thailand expects to export 1 million tonnes of durian this year
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
