The value of Thailand's gems and jewellery exports was 351 billion baht (11.45 billion USD) in the first eight months of 2019, up 45.8 percent year on year.
Bangkok (VNA) - The value of Thailand'sgems and jewellery exports was 351 billion baht (11.45 billion USD) in thefirst eight months of 2019, up 45.8 percent year on year.
Of the exports, gold alone accounted for 6.21 billion USD,recording an increase of 107.1 percent year on year, local media reported onOctober 3.
Southeast Asia has been the biggest market for gemsand jewellery from Thailand. Export of gems and jewellery to Singapore hasrisen 307 percent, to Cambodia 137 percent, and to India by 84.1 percent,because the Indian middle-class has higher buying power.
However, exports to other markets such as Hong Kong, theEuropean Union and the US have dropped.
Deputy Minister of Commerce Weerasak Wangsuphakijkosol said the export of gems and jewellery is the third biggestearner for the country, and growth in this industry has benefited the Thaieconomy.
Thailand has become Asia'sthird largest hub after China and Japan for gold trading. The country’s goldbullion exports in July surged 400 percent from the previous month and were up7.3 percent from the same period last year./.
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Illustrative image (Source: www.bangkokpost.com)
