Key points
- Thailand’s gems and jewellery exports climbed sharply in the first five months of 2026, with soaring gold demand driving a 29 percent increase in overseas salesImage Credit.
- GIT attributed the decrease to American importers bringing forward purchases earlier in the year, resulting in a slowdown in orders during subsequent months.
- The increase was supported by continued buying by central banks in several countries, steady investment demand and strong consumer interest in gold jewellery.
Bangkok Gems News: Gold Continues to Lead Export Momentum
Thailand’s gems and jewellery industry has delivered another strong performance in 2026, with exports recording impressive growth during the first five months of the year. According to the Gem and Jewellery Institute of Thailand (Public Organization), or GIT, total exports, including gold, reached US$15.66 billion between January and May, representing a remarkable increase of 29.41 percent compared with the corresponding period last year. The latest figures underline the resilience of the country’s jewellery sector despite ongoing global economic uncertainties and shifting international trade conditions.
Image Credit: Bangkok Gems News
While the headline figures reflect exceptional growth, a closer examination shows that gold remained the dominant force behind the surge. This Bangkok Gems News report notes that exports excluding gold totaled US$7.37 billion during the first five months of 2026, marking a respectable 11.11 percent increase. However, gold exports alone climbed by an outstanding 51.62 percent to US$8.29 billion, demonstrating the continuing strength of global demand for the precious metal from investors, central banks and jewellery manufacturers alike.
May Continues Positive Trend
GIT said the sector maintained its positive momentum during May. Exports excluding gold reached US$860.73 million, an increase of 1.82 percent from the same month a year earlier, extending the industry’s growth streak to three consecutive months. Including gold, May exports totaled US$2.27 billion, representing a substantial 29.74 percent increase.
Gold exports alone were valued at US$1.41 billion in May, up 55.75 percent. The increase was supported by continued buying by central banks in several countries, steady investment demand and strong consumer interest in gold jewellery. These factors helped offset softer international gold prices, which eased to approximately US$4,587.52 per ounce after declining for three consecutive months amid easing tensions in the Middle East and gold sales by the SPDR Gold fund.
Export Markets Show Broad-Based Growth
Thailand enjoyed healthy expansion across most of its major export destinations. Switzerland recorded one of the strongest performances with exports increasing by 67.15 percent, while the United Arab Emirates followed closely with growth of 65.60 percent. Germany rose by 41.77 percent, Japan by 42.08 percent, Italy by 32.17 percent and Belgium by 22.36 percent.
Other important markets also posted gains, with Hong Kong increasing by 8.59 percent, the United Kingdom by 5.50 percent and India by 2.84 percent. The United States was the only major market to record a decline, with exports falling 11.37 percent. GIT attributed the decrease to American importers bringing forward purchases earlier in the year, resulting in a slowdown in orders during subsequent months.
Product Categories Deliver Mixed Results
Several product categories achieved outstanding growth during the reporting period. Genuine jewellery exports jumped 68.17 percent, while gold jewellery increased by 15.59 percent. Platinum jewellery recorded an extraordinary rise of 2,674.53 percent, and exports of gold or silver articles and components surged by an exceptional 73,582.81 percent.
Strong gains were also recorded in rough gemstones, which climbed 136.86 percent, rough diamonds at 36.73 percent, polished diamonds at 11.32 percent and silver metal exports at 142.46 percent.
Not every category shared in the positive momentum. Silver jewellery exports declined by 4.43 percent, while cut hard gemstones slipped by 0.48 percent and cut soft gemstones eased by 1.48 percent, reflecting softer demand in some specialized market segments.
Outlook Remains Positive Despite Global Risks
Looking ahead, GIT believes Thailand’s gems and jewellery exports could continue to benefit during the coming months as overseas buyers accelerate purchases to reduce exposure to uncertainty surrounding United States tariff policies, possible supply chain disruptions and rising raw material costs. A weaker baht is also expected to enhance the competitiveness of Thai exporters in international markets.
Nevertheless, Sumed cautioned that several external risks remain. He said businesses should closely monitor warnings from the G7 nations and Europe regarding economic fragility, renewed inflationary pressures and international trade risks. Developments surrounding United States tariff policies and renewed tensions in the Middle East could also influence market conditions and investor confidence. Even so, Thailand’s diversified export markets, established manufacturing capabilities and strong reputation for craftsmanship position the industry well to respond to changing global demand. Maintaining flexibility, monitoring international developments and continuing to deliver high-quality products will be essential if the sector is to sustain its impressive performance throughout the remainder of 2026 and build on the momentum already achieved during the first five months of the year.
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