Ms. Chutima Boonyaprapatsorn, Deputy Commerce Minister has revealed that the 63rd Bangkok Gems & Jewelry Fair held under the theme of “Thailand’s Magic Hands: the Spirit of Jewelry Making” on February 20 to 24, 2019 at Challenger Halls 1-3, IMPACT, Muang Thong Thani experienced great success, with sales generated at the event totaling more than 2 billion baht (63 million USD). Buyers and visitors from overseas appreciated the intricate craftsmanship of Thai jewelry as well as the high quality of jewelry production which has led Thailand to be recognized worldwide as one of the world’s gems and jewelry hubs. Exhibitors at the fair met Thai and foreign buyers which offered them more opportunities to establish new networks and seek trade partners.
The 63rd Bangkok Gems & Jewelry Fair welcomed over 14,000 visitors from 118 countries from around the world, with the number of foreign visitors up 5.4 percent from the same period of last year. Trade generated at the event was nearly 2.1 billion baht (66 million USD), with immediate sales worth 700 million baht (22 million USD), up 85.2 percent compared to the Bangkok Gems and Jewelry Fair held in February 2018, while public days saw sales of approximately 360 million baht (11.4 million USD). Products with the highest value of trade at the fair were gemstones, fine jewelry, silver jewelry, machinery, and gold jewelry, respectively.
The Bangkok Gems & Jewelry Fair served as a platform for buyers and sellers to trade quality products in a secure atmosphere that matches world standards, and to hold business matching activities with quality exporter. Moreover, visitors enjoyed new product showcases and creative exhibits, for example, The New Faces which featured jewelry products from 123 SMEs manufacturers and designers nationwide from 21 provinces, such as Chantaburi, Tak, Sukhothai, Chiang Mai, Lampang, Pichit, Surin, Prachuab Khiri Khan, Nakon Sri Thammarat, and Phang Nga; and The Jewellers and Innovation and Design Zone, both of which demonstrated quality products that received good feedback from visitors, as well as generated over 120 million baht in sales during the event.
The Deputy Commerce Minister added that in the past year, exports of gems and jewelry from Thailand have been expanding in almost all markets. Last year, export of gems and jewelry products excluding unwrought gold was worth 7,606.45 million USD, up 6.96 percent, with high- growth products including gold jewelry, silver jewelry, imitation jewelry, and diamonds. Key export markets were Hong Kong (-1.17%), the U.S. (+15.72%), Germany (+16.24%), India (+2.23%), Belgium (+8.19%), while secondary markets with promising growth included Qatar (+103.49%), Singapore (+38.92%), South Korea (+36.98%), Lichtenstein (+25.04%), and Israel (+20.61%).
Moreover, this year, Ministry of Commerce focuses on developing the competitiveness and marketing for this industry by carrying out communications campaigns to promote the image of the industry to be recognized among buyers, importers, as well as increase the awareness of consumers with projects such as the Buy with Confidence campaign by the Gem and Jewelry Institute of Thailand (Public Organization) or GIT, along with the promotion of the industry image in overseas markets through the “Thailand’s Magic Hands: The Spirit of Jewelry Making” by the Department of International Trade Promotion. Moreover, the DITP is uplifting the Bangkok Gems & Jewelry Fair which is a platform for businesspeople, buyers, sellers in the gems and jewelry industry to expand their businesses in many dimensions from material sourcing, trading, and network-building, as well as working to expand online trade channels for gems and jewelry products through platforms such as Ali Express and Thaitrade.com.
The Ministry of Commerce is also focusing on Super Rich targets in the ASEAN region, South Asia, and China while expanding niche products such as jewelry for millennials in China, Japan, and the US; jewelry for pets among aging societies and singles; and jewelry relating to belief and opulence. Moreover, the ministry aims to develop The New Faces business operators to promote the manufacturing of a wide variety of products from Thai SMEs nationwide to enter the international gems and jewelry market.
The 64th Bangkok Gems & Jewelry Fair will be held from September 10 to 14, 2019 at Challenger Halls 1-3, IMPACT Muang Thong Thani. For more information, please visit www.bkkgems.com or dial DITP Call Center 1169.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
