Thailand has carved a name for itself in the international gem and jewellery industry as a renowned, reliable and reputable producer of silver jewellery.
Its deep-rooted silversmithing traditions, mastery of modern techniques, prowess in the full spectrum of designs, high-quality craftsmanship and competitive prices have convinced many a brand, jewellery designer and retailer to rely on the country to bring their silver jewellery vision to life.
For years, Thailand was the world’s leading producer of silver jewellery in terms of volume. Export declines driven by global economic slumps forced it to relinquish its position at the top of the tally to China, which catapulted to the top of the production tally in the early 2010s. Thailand slipped further down the ranks when India claimed dominance in the sector in 2014.
Thailand's silver jewellery sector is slowly but surely inching its way back to the top. In 2019, it recorded a 13 per cent increase in production to 28.5 million ounces (Moz), from 25.2 Moz in 2018, according to the Silver Institute-commissioned World Silver Survey 2020 by Metals Focus. The report noted that the US-China trade war prompted North American buyers to turn to other manufacturing centres for their silver jewellery needs. Thanks to this export-led boost, Thailand ended 2019 as the world’s second-largest silver jewellery manufacturer, after India.