Key points
- Thailand does however face a growing shortage of skilled labor in the jewellry industry and to mitigate risks, gemstone polishers and jewelry manufacturer exploring new labor markets such as Philippines, Indonesia, as well as India, Nepal, and China.
- While challenges such as workforce renewal and exchange rate volatility remain, the industry’s adaptability and global reputation ensure it will remain a vital player on the international stage.
- While major competitors like India are grappling with punitive 50 percent tariffs on their exports to the US, Thailand faces a comparatively lower rate of 19 percent—providing a valuable competitive edge.
Bangkok Gems News: Thai Exporters See Opportunity in Global Market Shifts
Thailand’s Gems and Jewellery industry is entering 2025 with renewed optimism, aiming for export growth between 5–6 percent despite global economic uncertainties and higher tariffs in the United States. While major competitors like India are grappling with punitive 50 percent tariffs on their exports to the US, Thailand faces a comparatively lower rate of 19 percent—providing a valuable competitive edge. Industry insiders report that Thailand’s gems and jewellery sector has already outperformed early forecasts for the first half of 2025, with this Bangkok Gems News report noting that the momentum is stronger than initially anticipated.
Thailand jewelry exports are expected to grow despite the tariffs imposed by Trump
Image Credit: Bangkok gems and Jewelry Fair (DITP)
During the first six months of this year, total exports surged by 82.4 percent year-on-year, reaching more than US$14 billion. Excluding unwrought gold, the increase was 62.8 percent, totaling US$7.42 billion. Gold jewellery, silver jewellery, and coloured gemstones remain the leading products, with top markets including India, Hong Kong, the Middle-East and the United States. In 2024, exports excluding unwrought gold brought in about US$9.55 billion—a rise of 11.53 percent from the previous year. Much of the early growth in 2025 has been fueled by stockpiling ahead of US tariff enforcement.
Competitive Advantages and Market Expansion
The US tariff on Thai gems and jewellery, although higher than before, remains lower than those imposed on competitors like Vietnam, which now faces 20 percent rates. Historically, rough gems entered the US without import tariffs, while finished jewellery faced 5–10 percent duties. The new rate for Thai goods still allows the country to remain price-competitive while maintaining quality standards.
Industry leaders are also conscious of other market pressures. The recent appreciation of the Thai baht—from 33.50–33 per US dollar to 32—could lead to estimated revenue losses of 6–7.1 billion baht for every baht gained.
Thailand does however face a growing shortage of skilled labor in the jewellry industry and to mitigate risks, gemstone polishers and jewelry manufacturer exploring new labor markets such as Philippines, Indonesia, as well as India, Nepal, and China.
The coming 72nd Bangkok Gems and Jewelry Fair is expected to draw in about US$110 million worth of orders
Image Credit: Bangkok gems and Jewelry Fair (DITP)
Gems and jewelry exporters are also realizing that market diversification is seen as crucial for sustaining growth and cushioning against market fluctuations. Many are exploring newer markets in the Middle-East, Eastern Europe and even markets in South-East Asia such as Malaysia, Indonesia, and Singapore.
Bangkok Gems and Jewelry Fair Boosting Global Position
The coming 72nd Bangkok Gems & Jewelry Fair is set to reinforce Thailand’s status as a global hub for the trade. Recognized as one of the world’s top four industry events, the fair will host 1,102 companies across 2,630 booths at the Queen Sirikit National Convention Center from September 9–13. More than 45,000 visitors from around the globe are expected, with trade value projected to exceed US$110 million.
Thai jewelers are renowned for their intricate craftsmanship, innovative designs, and cost-efficient production. The country also boasts advanced gemstone cutting and polishing facilities, making it a favored source for both raw and finished products. This reputation for quality and affordability is a key factor in sustaining demand worldwide.
Outlook for 2025 and Beyond
Despite global trade tensions and currency fluctuations, Thailand’s gems and jewellery industry is positioned to capitalize on shifting market dynamics. Lower comparative tariffs, strong craftsmanship traditions, and a strategic push into emerging markets are expected to keep exports on track for the projected 5–6 percent growth. While challenges such as workforce renewal and exchange rate volatility remain, the industry’s adaptability and global reputation ensure it will remain a vital player on the international stage. If market conditions remain stable and promotional efforts like the Bangkok Gems & Jewelry Fair continue to attract high-value buyers, Thailand could even surpass its growth target.
For the latest on the Thai gems and jewelry industry, keep on logging to Bangkok Gems News.
