Thailand - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
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View PricingJewelry 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.
| COUNTRY | Export Value of Jewelry in Thailand (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 1,013 | 959 | 901 | 938 | 876 | 896 | 718 | 732 | 1,059 | 1,211 | 1,095 |
| Germany | 470 | 535 | 529 | 524 | 594 | 621 | 476 | 508 | 497 | 525 | 482 |
| United Kingdom | 170 | 203 | 179 | 330 | 130 | 166 | 199 | 102 | 199 | 284 | 289 |
| Hong Kong | 141 | 155 | 171 | 151 | 208 | 153 | 167 | 184 | 159 | 227 | 275 |
| India | 25.4 | 19.7 | 9.5 | 7.0 | 9.5 | 29.6 | 42.6 | 14.5 | 30.4 | 117 | 243 |
| Australia | 166 | 175 | 156 | 170 | 220 | 181 | 126 | 147 | 157 | 183 | 167 |
| Japan | 148 | 150 | 126 | 139 | 132 | 141 | 144 | 105 | 91.9 | 129 | 138 |
| United Arab Emirates | 269 | 270 | 205 | 228 | 308 | 222 | 235 | 103 | 138 | 310 | 2.3 |
| Others | 745 | 725 | 657 | 661 | 788 | 815 | 776 | 575 | 653 | 827 | 767 |
| Total | 3,148 | 3,191 | 2,933 | 3,149 | 3,265 | 3,225 | 2,884 | 2,471 | 2,984 | 3,811 | 3,457 |
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.
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Products: Market Size and Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports and Growth, By Type
- Products: Export Prices and Growth, By Type
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
