 Economy
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24 Sep 07 09:38
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Local sales, exports of Thai jewellery tumble this year
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TNA
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- It is, perhaps, the attention to detail that sets Falcon Hill apart from other luxury properties in Thailand.
Kim Falcon Ravn, Denmark
Managing Director
Visit Falcon Hill, Hua-Hin
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BANGKOK, Sept 22 - Sales of jewellery and ornamental products in Thailand declined by half while their exports rose only 10 per cent from last year's, a senior official said Saturday.
Pornchai Chuenchomlada, president of the Jewellery Traders' Association, said current political turbulence in Thailand had forced foreign tourists to shun the kingdom, causing sales of jewellery and ornamental products which normally stood between Bt30-40 billion annually, to drop by as much as 50 per cent.
Exports of jewellery and ornamental products this year grew only 10 per cent from last year which could earn the country about Bt139 billion.
The sharp drop from an earlier estimated growth of 20 per cent in exports was attributed to several factors including an appreciation of the Thai currency, the baht, the US decision to cut the generalised system of preferences and the prevailing sub-prime crux in the property sector which is now spreading to Europe and Japan, said Mr. Pornchai.
Meanwhile, about Bt20 billion changed hands during the 40th Bangkok Gems & Jewellery Fair which ends Saturday. Operators from 30 countries participated at the fair.
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