The import of jewellery of precious metal to Thailand has seen considerable fluctuations from 2013 to 2023, ranging from a notable decline in the early years to a positive trend more recently. From 2013's steep decline of 14.94% to recovery phases with significant year-on-year variations: an impressive rise of 21.98% in 2017 and continued growth reaching 2.66% by 2023. Notably, the import value stood at 791.32 million USD in 2023.
Key Observations:
- 2013-2016: Persistent declines with occasional stagnation, reflecting economic or market adjustments.
- 2017-2018: Strong recovery with notable year-on-year increases.
- 2019-2023: Stability with minor fluctuations indicating market maturity.
Forecast:
- 2024-2028: A steady growth trajectory with a forecasted average annual growth rate (CAGR) of 2%, and a cumulative increase of 10.39% by 2028.
Future Trends to Watch:
- Global economic conditions impacting luxury goods demand.
- Trade policies affecting import tariffs and regulations.
- Consumers' preference for sustainable and ethically sourced jewellery.
