The 63rd Bangkok Gems & Jewelry Fair was declared a “great success” by the organisers as a large number of orders were booked during the event. Organised by the Department of International Trade Promotion (DITP), ministry of commerce, from February 20th to 24th, 2019, at Challenger Halls 1-3, IMPACT, the show also saw a notable jump in foreign buyers.
Her Royal Highness Princess Sirivannavari Nariratana presided over the opening of the Bangkok Fair, which was held under the theme of “Thailand’s Magic Hands: the Spirit of Jewelry Making”. Exhibitors said they met Thai and foreign buyers, which offered them greater opportunities to establish new networks and seek trade partners.
The event welcomed over 14,000 visitors from 118 countries from around the world, with the number of foreign visitors up 5.4% from the same period last year. Trade generated at the event was nearly 2.1 billion baht ($66 million), with immediate sales worth 700 million baht ($22 million), up 85.2% compared to the fair held in February 2018. Products with the highest value of trade at the fair were gemstones, fine jewellery, silver jewellery, machinery, and gold jewellery.
Visitors enjoyed new product showcases and creative exhibits, for example, The New Faces which featured jewellery products from 123 small and medium manufacturers and designers nationwide from 21 provinces. The Jewellers and Innovation and Design Zone, which demonstrated quality products that received good feedback from visitors, generated over 120 million baht in sales during the event.
Thailand’s deputy commerce minister Chutima Boonyaprapatsorn revealed that exports of gems and jewellery from Thailand in 2018 expanded in almost all markets. Last year, Thailand’s gem and jewellery exports (excluding unwrought gold) were worth $7.6 billion, up 7%, with high-growth products including gold jewellery, silver jewellery, imitation jewellery, and diamonds. The key export markets were Hong Kong (-1.17%), the US (+16%), Germany (+16%), India (+2%), Belgium (+8%), while secondary markets with promising growth included Qatar (+103%), Singapore (+39%), South Korea (+37%), Lichtenstein (+25%), and Israel (+21%).
Boonyaprapatsorn said, “The gems and jewellery industry in Thailand is key to the country’s economy. The industry has long been recognised worldwide for quality manufacturing of gems and jewellery, while generating income for 1.2 million workers in the industry.”
Thailand’s gem and jewellery exports in 2018 (including unwrought gold) totalled $11.97 billion, accounting for 4.74% of the country’s total exports.
Princess Sirivannavari Nariratana (seen above, right) visited the gems and jewellery exhibitors at the event to show her support for manufacturers as well as to inspire a new generation of designers to develop and produce gems and jewellery products for the world market.
The commerce ministry is also focusing on super rich targets in the ASEAN region, South Asia, and China, while expanding niche products such as jewellery for millennials in China, Japan, and the US; jewellery for pets among aging societies and singles; and jewellery relating to belief and opulence, the show organisers stated.