Thailand's gems, jewellery exports projected to up 15-20 percent in 2022
Bangkok (VNA) - Thailand's gem and jewellery
exports excluding gold are forecast to grow by 15-20 percent in 2022 thanks to the
global economic recovery, increasing economic activities as well as less severe
symptoms caused by the Omicron variant.
According to director of the Gem and Jewelry
Institute of Thailand (GIT) Sumeth Prasongphongchai, many trading partners of
the country adjusted their safety policies to allow more open trading
conditions.
In addition to more vaccination coverage worldwide, the Omicron variant is
likely to generate less severe symptoms, resulting in increased economic
activities 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 (up
60.7 percent), the US (up 51.3 percent), the United Arab Emirates (up 29.8
percent), Belgium (up 21.2 percent), Australia (up 10.7 percent) and Japan (up
6.49 percent).
Gem and jewellery exports ranked fifth in terms of total shipment value last
year after automobiles and parts, computers and parts, rubber products, and
plastic pellets. This industry employs more than 700,000 workers.
Sumeth said that the International Chanthaburi Gems
and Jewelry Festival 2021-2022, held on February 4 with over 250 exhibitors, may
have generated revenue of more than 60 million baht (1.86 million USD) for
local traders./.