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Jewellery exports predicted to reach $3.6bn for 2006
23 Nov '06
1 min read
Thailand's exports of gems and jewellery are anticipated to rise to US $3.6 billion in 2006.
Overall exports of jewellery in the first nine months of 2006 were $3 billion which was 15 percent more than same period in 2005, said Somchai Pornchindarak, Secretary General, Thai Gem and Jewellery Traders Association.
He predicted this year's total jewellery exports likely to reach $3.6 billion. US, EU and Asian nations are the prime importers.
Currently the traders' association is concentrating on Asian markets for gem and jewellery exports, with focus on India and China. Somchai accepted that foray into Chinese markets was not an easy job as Beijing continues to apply 37 percent tax on Thai gems.
He expressed a possibility of crisis in global economy in coming three years and stated that US economy would constantly incur losses.
He added that to decrease the shortage, US had made efforts to weaken the greenback against other types of currency, which could hinder Thai exports. But this negative effect can be reduced in future if Thai exporters start focusing on Asian markets.
Overall exports of jewellery in the first nine months of 2006 were $3 billion which was 15 percent more than same period in 2005, said Somchai Pornchindarak, Secretary General, Thai Gem and Jewellery Traders Association.
He predicted this year's total jewellery exports likely to reach $3.6 billion. US, EU and Asian nations are the prime importers.
Currently the traders' association is concentrating on Asian markets for gem and jewellery exports, with focus on India and China. Somchai accepted that foray into Chinese markets was not an easy job as Beijing continues to apply 37 percent tax on Thai gems.
He expressed a possibility of crisis in global economy in coming three years and stated that US economy would constantly incur losses.
He added that to decrease the shortage, US had made efforts to weaken the greenback against other types of currency, which could hinder Thai exports. But this negative effect can be reduced in future if Thai exporters start focusing on Asian markets.
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