Thailand's gems and jewellery industry, like many others, has been battered by the Covid-19 pandemic. This sector has long been an important contributor to the Thai economy, ranking third behind automobiles and electronics in total export value, with international shipments worth more than $15 bn a year, as per a media report.
Last year, the industry employed 1.2 mn people. Thailand ranked among the world's top 15 jewellery exporters last year. However, as of May 2021, Thailand's gem and jewellery export value was down 62.95% from a year earlier to $3.5 bn. Many gem factories and retailers have closed permanently as a result of the ongoing pandemic.
To adapt to evolving situations of responsible mining, conflict-free supply chains and environmental consciousness, the Bangkok Gems & Jewelry Fair, which is organised annually by the Department of International Trade Promotion, will hold a Special Edition in September on a new online platform featuring a virtual trade fair and online business matching, where buyers and exporters from all over the world can connect.
In addition, the Gem and Jewelry Institute of Thailand plans to organise the International Chanthaburi Gems and Jewelry Festival at the end of this year to promote the industry while reinforcing the role Thailand as the world's gems manufacturing and trading hub.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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