The Global Gems Market is Bright, while the Thai Gemstone Market Bustles – and Gets Ready to Host “Bangkok Gems” this September
After two years of stagnation from the Covid-19 epidemic, the world gems market has started to recover. This year, market expansion is likely to continue from last year, with Future Market Insights (FMI) reporting that, by 2023, the gems market will be worth US$ 32.38 billion. This reflects an increase of 5.2 percent from the previous year. Also, from 2023 to 2033, there will be an average annual growth rate of 5.6 percent, with diamonds accounting for 80 percent of overall jewelry sales. Diamond rings are especially sought after by consumers from all over the world. In addition to demand for white diamonds, pink diamonds as well as colorful gemstones such as rubies, sapphires, emeralds and various colored stones are also desirable.
Thailand currently ranks as the world's third largest exporter of colored gemstones. Between January and February 2023, the Kingdom’s colored gemstone exports were worth US$ 448.52 million, growing more than 2 times from last year. Approximately 72 percent is comprised of the export of cut and polished gemstones. Thailand is also the fifth largest exporter of cut and polished diamonds in the world. The 68th Bangkok Gems and Jewelry Fair (BGJF) in September is expected to effectively highlight Thailand’s capacity as a gem and jewelry center.
The 68th Bangkok Gems and Jewelry Fair (BGJF) is organized by the Department of International Trade Promotion (DITP) in collaboration with the Gem and Jewelry Institute of Thailand (Public Organization) or GIT. The event takes place from September 6-10, 2023 at Queen Sirikit National Convention Center (QSNCC). For more information, please visit www.bkkgems.com.
Bangkok, 26 July 2023
Press info: Chidsupang Chaiwiroj