The import of mounted precious or semi-precious stones to Thailand has shown varying trends from 2013 to 2023, with values expressed in million US Dollars. In 2023, the recorded import value stood at $632.45 million. The year-on-year variations have fluctuated significantly, ranging from a -13.56% decline in 2020 to a substantial 59.58% increase in 2017. Notably, the import values grew at a Compound Annual Growth Rate (CAGR) of 4.62% over the past five years ending in 2023.
Forecasts for the years 2024 to 2028 indicate a continued increase in import values, with a forecasted CAGR of 2.54%. The expected cumulative growth rate over the next five years is 13.36%, suggesting a steady upward trend despite the annual fluctuations experienced in previous years.
Future trends to watch for include the potential impact of global economic conditions on luxury goods, changes in consumer preferences, trade policies affecting import regulations, and technological advancements in the gemstone industry that could influence market dynamics.
