Thailand’s jewelry industry took a beating in 2009, seeing exports fall in a number of key areas. Diamond exports fell 23.3 percent to 27.86 billion baht ($852.8 million) in 2009. Gold jewelry exports fell 21.8 percent to 47.42 billion baht ($1.45 billion) during the year.
According to figures released by the Thai customs department, gemstone exports in 2009 declined 20.5 percent to 13.57 billion baht ($415.4 million)
While exports of high-priced items suffered, low cost jewelry items fared well last year. Silver jewelry exports rose 14.6 percent to 32.52 billion baht ($995.4 million) and fashion jewelry exports rose 11.2 percent to 7.26 billion baht ($222.2 million).
Gold exports, which registered a massive 71.7 percent leap to 194.14 billion baht ($5.94 billion) in 2009, helped Thailand’s total gems and jewelry exports end the year with a 21.8 percent growth. The Asian country exported a total of 333.74 billion baht ($10.22 billion) worth of jewelry and gems in 2009.