Thailand: Jewelry Market 2024

Jewelry Market Size in Thailand

In 2022, the Thai jewelry market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a strong expansion. As a result, consumption attained the peak level of $X, and then reduced slightly in the following year.

Jewelry Production in Thailand

In value terms, jewelry production shrank modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Jewelry production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Jewelry Exports

Exports from Thailand

In 2022, jewelry exports from Thailand expanded to X tons, surging by X% compared with the previous year. In general, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, jewelry exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Germany (X tons) and the UK (X tons) were the main destinations of jewelry exports from Thailand, with a combined X% share of total exports. India, Australia, Spain, Denmark, China, Hong Kong SAR, France, Italy, the Netherlands and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for jewelry exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2022, with an increase of X% against the previous year. Overall, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per kg in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while the average price for exports to Spain ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Thailand

In 2022, overseas purchases of jewelry increased by X% to X tons, rising for the seventh consecutive year after two years of decline. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, jewelry imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR (X tons), China (X tons) and Italy (X tons) were the main suppliers of jewelry imports to Thailand, together accounting for X% of total imports. India, Singapore, the United States, Indonesia, Ireland, Germany, Japan, the United Arab Emirates and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest jewelry suppliers to Thailand were Hong Kong SAR ($X), Singapore ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. The United States, Italy, India, Ireland, Japan, China, France, Germany and Indonesia lagged somewhat behind, together comprising a further X%.

Ireland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average jewelry import price stood at $X per kg in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a abrupt curtailment. The import price peaked at $X per kg in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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