Thai exports of jewelry and gems experienced a notable increase of 6.65% in the first seven months of this year, reaching $5.103 billion (172.78 billion baht), according to the Gem and Jewellery Institute of Thailand (GIT) on Monday. This figure does not include gold ornaments. Including gold ornaments, the total export value from January to July rose to $9.301 billion, reflecting a 13.86% increase from the previous year.
GIT Director Sumeth Prasongphongchai noted that geopolitical tensions and waning consumer confidence led to a decline in the export value of non-gold ornaments in June and July. However, the inclusion of gold ornaments significantly impacted the figures. In July alone, the total export value soared to $1.728 billion, marking a dramatic 114.28% rise from the previous month.
The export of gold ornaments saw an extraordinary increase of 434.13% in July compared to June, totaling $1.18 billion. This surge is attributed to gold prices soaring above $2,480 per ounce.
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