Illustrative image (Photo: https://www.bangkokpost.com) Bangkok (VNA) - Thailand's gem and jewelleryexports excluding gold are forecast to grow by 15-20 percent in 2022 thanks to theglobal economic recovery, increasing economic activities as well as less severesymptoms caused by the Omicron variant.
According to director of the Gem and JewelryInstitute of Thailand (GIT) Sumeth Prasongphongchai, many trading partners ofthe country adjusted their safety policies to allow more open tradingconditions.
In addition to more vaccination coverage worldwide, the Omicron variant islikely to generate less severe symptoms, resulting in increased economicactivities and rising demand for gems and jewellery products, he said.
Last year, Thailand's gems and jewellery exports rose by 26.9 percent from the year before.
Markets that recorded strong export growth included the UK(up by 135 percent from last year), Switzerland (up 70.4 percent), India (up60.7 percent), the US (up 51.3 percent), the United Arab Emirates (up 29.8percent), Belgium (up 21.2 percent), Australia (up 10.7 percent) and Japan (up6.49 percent).
Gem and jewellery exports ranked fifth in terms of total shipment value lastyear after automobiles and parts, computers and parts, rubber products, andplastic pellets. This industry employs more than 700,000 workers.
Sumeth said that the International Chanthaburi Gemsand Jewelry Festival 2021-2022, held on February 4 with over 250 exhibitors, mayhave generated revenue of more than 60 million baht (1.86 million USD) forlocal traders./.
