Key points
- Government agencies, particularly the Gem and Jewelry Institute of Thailand (GIT) and the Department of International Trade Promotion (DITP), have played a pivotal role in expanding export opportunities through aggressive international marketing and trade promotion initiatives.
- Thailand’s gem and jewelry industry is once again proving its resilience, with exports projected to grow by at least 35 percent if not more in 2026, despite mounting geopolitical tensions, rising global fuel prices, fresh U.
- Industry leaders say this trend has accelerated over the past year and is expected to continue as global companies seek to diversify their supply chains and reduce exposure to geopolitical risks.
Bangkok Gems News: Thailand’s gem and jewelry industry is once again proving its resilience, with exports projected to grow by at least 35 percent if not more in 2026, despite mounting geopolitical tensions, rising global fuel prices, fresh U.S. tariff measures introduced under President Donald Trump’s administration, and an increasingly uncertain world economy. The optimistic outlook comes after an exceptional performance in 2025 when Thailand’s gem and jewelry exports climbed 44.75 percent to US$26.59 billion, while exports excluding unwrought gold rose an impressive 41.33 percent to US$13.59 billion. The industry also maintained its position as Thailand’s third-largest export sector, accounting for 7.83 percent of the country’s total exports.
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The positive momentum has continued into 2026. During the first five months of the year, Thailand’s total gem and jewelry exports reached US$15.66 billion, representing a 29.41 percent increase over the same period last year. Excluding unwrought gold, exports of core gem and jewelry products climbed 11.11 percent to US$7.37 billion, highlighting sustained demand for Thailand’s high-quality products even as global markets face considerable economic headwinds.
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Midway through the industry’s remarkable performance, this Bangkok Gems News report examines why Thailand continues to outperform expectations while many other export sectors around the world struggle with slowing demand and economic uncertainty.
Thailand Defies Global Economic Headwinds
The global economy continues to face numerous challenges. The conflict in the Middle East has disrupted international shipping routes and energy markets, driving fuel prices higher and increasing transportation costs worldwide. Inflation continues to squeeze household budgets in many countries, while mounting debt levels have reduced consumer spending. Small and medium-sized enterprises in numerous economies are facing increasing financial pressure, with many businesses closing their doors as borrowing costs remain elevated. At the same time, rapid advances in artificial intelligence are transforming labor markets, creating uncertainty across several industries.
Despite these obstacles, Thailand’s gem and jewelry sector has demonstrated remarkable resilience by adapting quickly to changing market conditions and identifying new opportunities where others see only challenges.
Middle East Crisis Opens New Doors for Thai Exporters
Ironically, the instability affecting parts of the Middle East has generated unexpected benefits for Thailand’s gemstone and jewelry industry. Buyers who previously relied on suppliers in the region are increasingly looking for more dependable production partners capable of ensuring consistent quality and uninterrupted deliveries.
Thailand has emerged as one of the biggest beneficiaries of this shift. International clients sourcing polished gemstones, finished jewelry and contract manufacturing services are placing greater confidence in Thai producers, whose reputation for reliability, precision craftsmanship and efficient logistics continues to attract new business.
Industry leaders say this trend has accelerated over the past year and is expected to continue as global companies seek to diversify their supply chains and reduce exposure to geopolitical risks.
Government Agencies Continue Opening New Markets
Thailand’s success is not solely the result of changing global circumstances. Government agencies, particularly the Gem and Jewelry Institute of Thailand (GIT) and the Department of International Trade Promotion (DITP), have played a pivotal role in expanding export opportunities through aggressive international marketing and trade promotion initiatives.
These efforts have successfully opened new markets across UK, Eastern Europe, Russia, South America and China while strengthening Thailand’s presence in established markets throughout Europe, North America and Asia.
Rather than relying heavily on traditional export destinations, Thailand has broadened its international customer base, creating greater resilience against economic slowdowns affecting individual countries or regions.
The close collaboration between government agencies and the private sector has significantly strengthened Thailand’s position as one of the world’s leading gemstone and jewelry trading centres.
Trump Tariffs Create Unexpected Competitive Advantage
While the latest tariff measures introduced by President Donald Trump’s administration have raised concerns among exporters worldwide, many industry observers believe the new policies could ultimately benefit Thailand.
Under the July 2026 U.S. Section 301 tariff regime, Thailand is subject to a 12.5% additional import tariff on goods across non-exempt sectors following forced labor supply chain findings, although more than 2,120 product categories remain exempt; however, colored gemstones and related jewelry exports are not among those exemptions. In contrast, India faces a lower 10% additional Section 301 tariff on gem and jewelry exports, which, when combined with the standard Most Favored Nation (MFN) duty of 5.5%–6%, results in an effective import tax of approximately 15.5%–16% on jewelry. As a result, India’s placement in the 10% tariff band provides a 2.5 percentage-point tariff advantage over Thailand for exports of colored gemstones and jewelry to the U.S. However, many international buyers who traditionally sourced gemstones and jewelry from India are now increasing procurement from Thai manufacturers as they reassess supply chains in response to changing U.S. trade policies. Furthermore, rising labor costs in India coupled with a lot of government bureaucracy and “red tapes” and scams in India is putting many international buyers off and they are instead shifting to Thailand.
Thailand’s reputation for superior quality, dependable production and timely delivery makes it an attractive alternative for buyers seeking stability in an increasingly uncertain trading environment.
Industry analysts also point out that much of the additional tariff burden is expected to be passed on to American consumers rather than significantly affecting demand for premium-quality jewelry. High-end buyers generally place greater value on exceptional craftsmanship and design than on relatively modest price increases.
Global Recognition for Thai Craftsmanship
Thailand’s gemstone cutting industry and jewelry manufacturing sector continue to enjoy worldwide recognition for their exceptional standards.
For decades, Thai artisans have earned an international reputation for producing beautifully cut colored gemstones, intricate jewelry designs and world-class finished products that compete with the very best in the industry.
Many of Europe’s leading luxury jewelry brands and prestigious American design houses continue to rely on Thailand as one of their principal manufacturing partners, recognizing the country’s highly skilled workforce, advanced production capabilities and strict quality standards.
This enduring reputation remains one of Thailand’s greatest competitive advantages and continues to attract international buyers seeking premium products.
Export Performance Reflects Sustained Growth
Thailand’s outstanding export figures demonstrate that the industry’s strength extends well beyond temporary market fluctuations.
During 2024, gem and jewelry exports excluding unwrought gold reached approximately US$9.6 billion, representing healthy annual growth of 10.99 percent. That year also reinforced Thailand’s standing as the world’s second-largest exporter of silver jewelry and the third-largest exporter of colored gemstones.
The remarkable acceleration witnessed in 2025 elevated industry performance to new heights. Total exports surged to US$26.59 billion, recording overall growth of 44.75 percent, while exports excluding unwrought gold increased by 41.33 percent.
Although growth during the first five months of 2026 has moderated compared with last year’s exceptional pace, it remains exceptionally strong by international standards. The increase of 29.41 percent in total exports reflects both continued demand for Thai products and heightened global interest in gold as investors seek safe-haven assets amid geopolitical uncertainty.
Meanwhile, exports of core gem and jewelry products have continued expanding steadily despite challenges posed by a stronger Thai baht, which has placed additional pressure on export competitiveness.
Bangkok Gems and Jewelry Fair Expected to Break Another Record
Confidence within the industry is also reflected in expectations surrounding the upcoming 74th Bangkok Gems and Jewelry Fair in September, which is widely forecast to become another record-breaking event.
Recognized as one of the world’s premier international gemstone and jewelry exhibitions, the fair continues to attract thousands of buyers, exhibitors and industry professionals from every major trading region.
Organizers anticipate particularly strong participation from Europe, Asia and the Middle East, with many buyers expected to place larger orders as they diversify supply chains and seek reliable long-term manufacturing partners.
The event will once again showcase Thailand’s leadership in gemstone cutting, jewelry manufacturing, innovative design and international trade while reinforcing Bangkok’s status as one of the world’s most important gemstone trading hubs.
Strong Foundations Point Towards Another Exceptional Year
Few industries have demonstrated the resilience and adaptability shown by Thailand’s gem and jewelry sector. While many export industries continue to face uncertainty arising from geopolitical conflicts, inflation, currency fluctuations, supply chain disruptions and changing trade policies, Thailand has successfully transformed many of these challenges into valuable commercial opportunities.
Supported by proactive government agencies, expanding international markets, world-renowned craftsmanship and growing confidence among global buyers, the industry appears well positioned to achieve another year of outstanding growth. If current trends continue, the projected 35 percent increase in exports during 2026 will further strengthen Thailand’s reputation as one of the world’s foremost centers for gemstones and fine jewelry manufacturing, ensuring that the Kingdom remains a vital player in the global luxury goods market for many years to come.
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