Key points
- Official figures released by the Gem and Jewelry Institute of Thailand (GIT) highlight a remarkable rise in exports that has further widened the gap between Thailand and its closest competitors in the global silver jewelry market.
- Thailand has reinforced its position as the world’s leading exporter of finished silver jewelry after recording another impressive period of growth, with the country’s thriving jewelry industry building on exceptional performances in 2025 and carrying that momentum well into 2026.
- Thailand strengthens its position as the world’s leading finished silver jewelry exporter following record-breaking export growth in 2025 and a powerful surge during the first half of 2026Image Credit.
Thailand has reinforced its position as the world’s leading exporter of finished silver jewelry after recording another impressive period of growth, with the country’s thriving jewelry industry building on exceptional performances in 2025 and carrying that momentum well into 2026. Backed by strong international demand, world-renowned craftsmanship, strategic market expansion, and rising precious metal values, Thailand’s silver jewelry sector has emerged as one of the brightest performers in the nation’s export economy.
Image Credit: Bangkok Gems News
Official figures released by the Gem and Jewelry Institute of Thailand (GIT) highlight a remarkable rise in exports that has further widened the gap between Thailand and its closest competitors in the global silver jewelry market. This Bangkok Gems News report examines how the Kingdom has transformed its silver jewelry industry into an international success story, driven by innovation, skilled artisans, competitive manufacturing, and expanding overseas markets. The latest statistics also demonstrate that Thailand’s leadership is not the result of a single successful year but rather the continuation of a sustained upward trend that has strengthened over several years.
Outstanding Export Growth Strengthens Thailand’s Global Standing
Thailand’s finished silver jewelry exports reached USD 2.522 billion in 2025, representing a remarkable 31.56 percent increase from USD 1.917 billion recorded in 2024. The growth followed another strong performance in 2024, when exports rose 18.22 percent from approximately USD 1.622 billion in 2023, illustrating consistent expansion over three consecutive years.
The silver jewelry boom contributed significantly to Thailand’s broader jewelry industry. Fine jewelry exports climbed 37.11 percent to reach USD 6.652 billion during 2025, while overall gem and jewelry exports, excluding unwrought gold, totaled USD 13.587 billion, marking an impressive 41.33 percent increase compared with the previous year.
The impressive momentum has continued throughout 2026. During the first six months of the year, official GIT statistics showed that exports under HS Chapter 71, covering articles of jewelry including finished silver jewelry, surged 60.46 percent year-on-year, reaching USD 4.291 billion, compared with USD 2.674 billion during the same period in 2025.
In addition, exports of articles produced by goldsmiths and silversmiths recorded exceptional gains, while unwrought silver exports skyrocketed by 592.50 percent to USD 178.80 million. Overall gem and jewelry exports under HS Chapter 71 increased 20.74 percent, reaching USD 16.917 billion during the first half of 2026.
Thailand Dominates the Global Silver Jewelry Market
Thailand’s remarkable export performance has cemented its position as the world’s largest exporter of finished silver jewelry under HS Code 711311.
According to international trade data compiled by the Observatory of Economic Complexity (OEC), Thailand ranked as the world’s leading silver jewelry exporter in 2024, shipping approximately USD 2.56 billion worth of finished silver jewelry. This placed the country comfortably ahead of India, with exports of approximately USD 1.2 billion, and China, which exported around USD 1.08 billion worth of silver jewelry.
Global trade in finished silver jewelry was valued at approximately USD 8.64 billion, meaning Thailand accounted for roughly 23 to 30 percent of worldwide exports. The substantial gains recorded throughout 2025 and the strong acceleration during the first half of 2026 have only strengthened Thailand’s commanding share of the international market.
Industry analysts say the country’s ability to combine traditional craftsmanship with modern manufacturing techniques has enabled Thai producers to outperform many competing nations despite fluctuating economic conditions.
Strong Overseas Demand Continues to Drive Expansion
Several international markets played major roles in Thailand’s export success throughout 2025.
India emerged as one of the strongest growth markets, with Thai silver jewelry exports soaring by an extraordinary 142.26 percent. Analysts attribute the surge to strong consumer demand, expanding retail opportunities, and favorable trade arrangements that have facilitated duty-free access for many products.
The United States remained Thailand’s largest individual export destination, accounting for approximately 29 percent of total silver jewelry exports. Shipments to the American market increased 7.66 percent, reflecting continued demand for high-quality sterling silver jewelry despite broader economic uncertainties.
Germany also remained a significant market, where silver jewelry represents roughly 71 percent of Thailand’s gem and jewelry exports. Shipments to Germany increased 8.02 percent, while exports to the United Kingdom grew 7.40 percent.
Australia recorded a modest decline of 6.69 percent, but stronger performances across Asia and Europe more than compensated for the decrease.
Early 2026 trade data indicate that India, Hong Kong, Australia, Singapore, and the United Arab Emirates continue to rank among Thailand’s leading export destinations for the broader gem and jewelry sector, highlighting the industry’s increasingly diversified customer base.
Craftsmanship and Innovation Fuel Continued Success
Thailand’s reputation as a global jewelry manufacturing hub has been built over decades through the development of highly skilled artisans and specialized production clusters.
Manufacturers have become internationally recognized for producing intricate sterling silver jewelry that combines traditional craftsmanship with contemporary fashion trends. Their ability to quickly adapt designs, produce both original equipment manufacturing (OEM) products and branded collections, and respond rapidly to changing consumer preferences has become one of the industry’s greatest competitive advantages.
Production centers in Chiang Mai and several other specialized jewelry districts continue supplying high-quality finished products at competitive costs, allowing Thai manufacturers to compete successfully against larger producers.
Industry experts also point to investments in modern manufacturing technology, improved quality control systems, and ongoing workforce development as important factors supporting Thailand’s growing international reputation.
Rising Silver Prices Lift Export Values
Global silver prices also contributed significantly to Thailand’s export performance.
Although shipment volumes in some mature markets experienced only moderate growth, the increase in international silver prices substantially boosted export values throughout 2025 and into 2026.
Industry leaders, including representatives of the Thai Silver Exporters Association, have noted that much of the recent increase in export earnings resulted from higher precious metal prices rather than dramatic increases in physical export volumes.
Nevertheless, producers have successfully capitalized on these market conditions by maintaining strong production standards while continuing to introduce innovative product designs that appeal to consumers seeking fashionable sterling silver jewelry.
Diversification Helps Reduce Market Risks
Despite the exceptional performance, industry leaders acknowledge that challenges remain.
Heavy reliance on the United States market continues to expose exporters to possible changes in tariffs and trade policies. As a result, Thai companies have intensified efforts to diversify into emerging markets, particularly across Southeast Asia, the Middle East, including the United Arab Emirates, and the rapidly expanding Indian market.
Geopolitical uncertainties, currency fluctuations, and ongoing volatility in precious metal prices also present potential risks for exporters.
However, Thai manufacturers have demonstrated considerable flexibility by adjusting production methods, introducing new product collections, utilizing advanced manufacturing technologies, and expanding their international customer base.
These strategic adjustments have helped ensure the industry remains resilient despite changing global economic conditions.
Thailand’s silver jewelry industry has now established itself as one of the country’s most successful export sectors, supported by sustained double-digit growth, expanding global demand, internationally respected craftsmanship, and continued innovation. The outstanding results achieved throughout 2025, combined with the exceptional acceleration recorded during the first half of 2026, provide compelling evidence that Thailand’s leadership in the finished silver jewelry market continues to strengthen. While challenges such as metal-price volatility and evolving international trade policies remain, the industry’s adaptability, commitment to quality, and ongoing market diversification position it for continued success. The latest figures leave little doubt that Thailand remains firmly at the forefront of the global silver jewelry industry, generating valuable foreign exchange while reinforcing its reputation as one of the world’s premier jewelry manufacturing nations.
References:
https://www.git.or.th/infocenter-stat/?Lang=EN
https://oec.world/en/profile/hs/jewellery-and-parts-silver-including-plated-silver
https://infocenter.git.or.th/storage/files/VW31ykPUEysyNSDfoV3NyDSHglVXb2Aw3fgcL0HI.pdf
