Thailand’s Gem and Jewellery Exports Continue Rising Despite Tariffs and War Issues

Thailand Jewellery News: Thailand’s gem and jewellery industry has demonstrated remarkable resilience at the start of 2026, recording a strong surge in export value despite ongoing tariff pressures and escalating global conflicts. In January 2026, total exports reached USD 4,566.20 million, marking an impressive 57.34 percent increase compared to the same month in the previous year. This performance positioned the sector as Thailand’s top export category, contributing 14.46 percent to the nation’s total gross exports.

This Thailand Jewellery News report reveals that when unwrought gold is excluded, the actual export value of gem and jewellery products stood at USD 1,808.12 million, reflecting a more moderate but still encouraging year-on-year growth of 4.26 percent. On a monthly basis, the figures were even more striking, with total exports rising by 148.30 percent compared to December 2025, highlighting a powerful rebound driven by both seasonal demand and global economic uncertainty.

Gold Emerges as The Driving Force

A key factor behind this surge has been the extraordinary performance of gold exports. Shipments soared by 136.16 percent to reach USD 2,758.08 million in January alone. This dramatic rise is closely linked to growing investor demand for safe-haven assets amid intensifying geopolitical tensions, particularly conflicts in the Middle East and broader global instability.

Market analysts note that gold’s appeal has been further strengthened by optimistic price forecasts from major financial institutions, reinforcing its position as a preferred asset during uncertain times. As a result, Thailand has benefited from increased trading activity, positioning itself as a significant player in the global gold supply chain.

Seasonal Demand Strengthens Export Momentum

Beyond geopolitical factors, seasonal consumer behavior also played a crucial role in boosting export performance. The New Year and Lunar New Year celebrations traditionally drive strong demand for gold and jewellery, particularly across Asian markets where these items carry cultural and symbolic significance.

According to Sumeth Prasongphongchai, director of the Gem and Jewellery Institute of Thailand, the convergence of festive demand and global economic shifts created favorable conditions for exporters. Retailers increased orders to meet heightened seasonal consumption, contributing to the robust export figures recorded in January.

Diverging Trends Across Key Markets

Thailand’s export performance varied across major global markets, reflecting differing economic conditions and demand patterns. The Middle East emerged as a major growth engine, with exports to the United Arab Emirates surging by 254.58 percent. Switzerland and Japan also recorded strong gains of 155.38 percent and 70.70 percent, respectively, signaling sustained demand in both investment and luxury segments.

Meanwhile, exports to the United Kingdom and Hong Kong grew by 12.12 percent and 51.65 percent, maintaining steady momentum. However, the United States market experienced a significant contraction, with exports declining by 36.55 percent. Industry experts attribute this drop to stockpiling by American importers in late 2025, which temporarily reduced new purchasing activity.

Industry Shifts Highlight Emerging Pressures

While gold and precious metals drove overall growth, other segments of the industry faced notable challenges. Platinum jewellery recorded gains, benefiting from evolving consumer preferences, but the diamond sector experienced a downturn. Exports of polished diamonds fell by 21.29 percent, while rough diamond exports declined sharply by 97.54 percent.

These shifts underscore a broader transformation within the global jewellery market, where investment-driven demand is increasingly overshadowing traditional luxury consumption. The ongoing geopolitical climate and economic uncertainty are reshaping buyer priorities, with greater emphasis on value preservation and financial security.

Thailand’s gem and jewellery sector continues to demonstrate strength and adaptability in the face of external pressures. The strong performance in January reflects both the country’s strategic position in global trade and its ability to respond to changing market dynamics. Moving forward, sustaining this growth will depend on balancing the dominance of gold exports with the recovery of other product segments, while navigating geopolitical risks and evolving consumer trends in an unpredictable global environment.

Reference:

https://infocenter.git.or.th/en/article/article-20260317

For the latest Thailand Jewellery News, keep on logging to Bangkok Gems News.