Thailand’s gems and jewelry industry has long been an important contributor to the country’s economy, thriving through economic slowdowns over the decades, with international shipments worth more than 6 billion US dollars last year.
According to statistics by Thailand’s Ministry of Commerce, the country’s exports of gems and jewelry products in the first two months of 2022 accounted for 1.17 billion US dollars, representing an increase of 43.89% against the same period of the previous year, with major destinations being the USA, India, Hong Kong, Germany, the UK, Singapore, Belgium, the UAE, Australia, and Japan.
Despite the unstable situations induced by the coronavirus, Thailand’s gems and jewelry industry exhibits the potential to become the world’s jewelry trading hub. Explicitly, Thailand possesses manufacturing expertise whereby Thai artisans have the skills and the intricate craftsmanship of treating, cutting, setting, and designing, to create products that are exceptionally recognized around the world. Moreover, Thai business operators are highly-skilled at adapting to rapidly changing market trends, sourcing raw materials, marketing, and catering to consumers’ needs.
Also, the strategic location of Thailand on the world map serves as the gateway to ASEAN, allowing it to establish transportation routes to access the potential markets in the region, notably the fast-growing CLMV (Cambodia, Laos, Myanmar, and Vietnam). The country has a dedicated gem and jewelry institute — the Gem and Jewelry Institute of Thailand (GIT) — to incubate personnel for the industry and establish standards for gems and jewelry products. Currently, DITP is joining hands with GIT in co-organizing the fair, with the MoU signing taking place in May 2022.
After two years of pandemic-induced interruptions, DITP has made a big move to spin off its trade shows onto the online platform. With the success of organizing the virtual Bangkok Gems & Jewelry Fair in 2020 and 2021, trade could continue despite lockdowns and travel restrictions. Since then, the online platform has become one of the main trading channels.
The physical version of the Bangkok Gems & Jewelry Fair has been around for more than three decades, and that means the platform is well-known to buyers from all over the world for its popularity and reliability. Encouraged by the country’s relaxed border restrictions for tourists and business travelers since the beginning of 2022, the physical version of the Bangkok Gems and Jewelry Fair will go on as planned.
Be dazzled by the luster of innovative gems and jewelry products at the 67th Bangkok Gems and Jewelry Fair. The fair and its underlying activities will be organized between September 7 and 11, 2022. For more information, visit www.bkkgems.com and be a part of the complete supply chain of gems and jewelry products Thailand has to offer.