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Thailand - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Thailand - Jewelry - Market Analysis, Forecast, Size, Trends and Insights

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Oct 28, 2024

Jewelry Exports From Thailand Plummet Significantly to $3.5 Billion in 2023

Thailand Jewelry Exports

In 2023, overseas shipments of jewelry were finally on the rise to reach 1.2K tons for the first time since 2020, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 34%. The exports peaked at 2.5K tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, jewelry exports shrank to $3.5B (IndexBox estimates) in 2023. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of 28% against the previous year. As a result, the exports reached the peak of $3.8B, and then shrank in the following year.Thailand Jewelry Exports By Country (Million USD)

COUNTRYExport Value of Jewelry in Thailand (million USD)
20132014201520162017201820192020202120222023
United States1,0139599019388768967187321,0591,2111,095
Germany470535529524594621476508497525482
United Kingdom170203179330130166199102199284289
Hong Kong141155171151208153167184159227275
India25.419.79.57.09.529.642.614.530.4117243
Australia166175156170220181126147157183167
Japan14815012613913214114410591.9129138
United Arab Emirates2692702052283082222351031383102.3
Others745725657661788815776575653827767
Total3,1483,1912,9333,1493,2653,2252,8842,4712,9843,8113,457

Exports by Country

the United States (372 tons), Germany (233 tons) and India (190 tons) were the main destinations of jewelry exports from Thailand, with a combined 66% share of total exports.

From 2013 to 2023, the biggest increases were recorded for India (with a CAGR of +30.0%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($1.1B) remains the key foreign market for jewelry exports from Thailand, comprising 32% of total exports. The second position in the ranking was held by Germany ($482M), with a 14% share of total exports. It was followed by the UK, with an 8.4% share.

From 2013 to 2023, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.2% per year) and the UK (+5.4% per year).

Exports by Type

Silver jewelry (1.1K tons) was the largest type of jewelry exported from Thailand, accounting for a 94% share of total exports. Moreover, silver jewelry exceeded the volume of the second product type, non-silver precious metal jewelry (58 tons), more than tenfold. Base metal jewelry clad with precious metals (7.5 tons) ranked third in terms of total exports with a 0.6% share.

From 2013 to 2023, the average annual rate of growth in terms of the volume of silver jewelry exports totaled -6.9%. With regard to the other exported products, the following average annual rates of growth were recorded: non-silver precious metal jewelry (-5.3% per year) and base metal jewelry clad with precious metals (-11.2% per year).

In value terms, non-silver precious metal jewelry ($1.8B), silver jewelry ($1.6B) and base metal jewelry clad with precious metals ($3.9M) appeared to be the most exported types of jewelry from Thailand worldwide, together accounting for 100% of total exports. Precious metal-clad goldsmiths articles of base metals, non-silver precious metal non-jewelry articles and silver goldsmiths non-jewelry articles lagged somewhat behind, together accounting for a further 0.1%.

Among the main product categories, precious metal-clad goldsmiths articles of base metals, with a CAGR of +6.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices by Country

In 2023, the jewelry price stood at $2,864,176 per ton (FOB, Thailand), with a decrease of -13.6% against the previous year. In general, the export price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 69%. Over the period under review, the average export prices hit record highs at $3,315,555 per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong ($19,254,746 per ton), while the average price for exports to Spain ($972,660 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the jewelry market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 32121330 - Articles of jewellery and parts thereof of precious metal (including plated, clad)
  • Prodcom 32121351 - Articles of goldsmiths
  • Prodcom 32121353 - Articles of goldsmiths
  • Prodcom 32121355 - Articles of goldsmiths

Country coverage:

  • Thailand

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Thailand
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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