The export value of diamonds from Thailand in 2023 stood at 1.8759 billion US dollars. The year-on-year variation indicated a minor increase of 2%, while the compound annual growth rate (CAGR) over the last five years was steady at 2.12%. Historically, the trend in diamond export values has shown some fluctuations, with a notable decline in 2020 followed by a strong recovery in 2021.
The forecasted data suggests a gradual increase in diamond exports, with an expected value of 2.068 billion US dollars by 2028. This represents a forecasted five-year CAGR of 1.54% and an overall growth rate of 7.92% by the end of the period.
Future trends to watch for include:
- Changes in global demand for luxury goods, which could influence the market for diamonds.
- Economic conditions in key export markets, affecting purchasing power and import capacities.
- Developments in synthetic diamond technologies, potentially impacting natural diamond demand.
- Trade policies and agreements with major diamond importers, shaping Thailand's export dynamics.
