Thai’s October diamond trade sees a dip

The month of October has seen a dipping diamond trade for Thailand, as reported by Thai Gem and Jewelry Traders Association (TGJTA). The country’s polished diamond exports decreased by 3.3 percent to $88.56 million and diamond imports dropped by 8.5 percent to $132.32 million.

On the contrary, the country’s diamond trade for the first ten months of 2008 noted an increasing pattern, but was affected by the performance in the month of October. In the first 10 months of the year, diamond exports increased by 23 percent to $971.29 million, while imports rose by 18 percent to $1.415 billion. Amongst the countries receiving diamonds from Thailand, Belgium and Israel accounted for one quarter each of the exports in the ten-month period, Hong Kong received the third largest export destination. Around 24 percent of the imports were sent to India, with Belgium and Israel each accounting for 18 percent.

Apart from diamonds, exports of other gems - coloured gemstones and precious gemstones increased in October by 14.7 percent to $40.02 million.