Demand for coloured gems on the rise in 2018
Recent jewellery trade events in Bangkok, Thailand, suggest demand for coloured gemstones will rise in China and the United States over the coming months. Here, CARAT+ reporter, David Brough, discovers the latest trends as we countdown to the debut CARAT+ Coloured Gemstones Sector in May.
Demand looks set to rise for coloured gemstones and Thai-manufactured jewellery in leading markets such as China and the United States in 2018, according to industry leaders at the Bangkok Gems & Jewelry Fair from February 21-25.
This sets a positive tone ahead of CARAT+ 2018, which will feature suppliers of high quality colour gemstones, such as Paul Wild and Shapiro Gems, as well as Kunming Diamonds, specialists in natural colour diamonds.
Celebrating the heritage and craftsmanship of Thai gem and jewellery manufacturing in Bangkok.
“The key driver is the improving world economy,” Chantira Jimreivat Vivatrat, director general of the state-backed Department of International Trade Promotion (DITP), which organised the fair, told a news conference on February 21.
“We have been helping Thai companies with their marketing and have provided a favourable tax regime for manufacturing."
Demand from China for grading of coloured gemstones is also increasing at laboratories of the state-backed Gem and Jewelry Institute of Thailand (GIT), highlighting improving Chinese consumer demand for colour gemstone jewellery, GIT’s deputy director, Boontawee Sriprasert, told reporters on February 22.
Thailand has a long tradition of manufacturing and exporting gold, silver and colour gemstone jewellery, using a highly-skilled workforce and cutting-edge technology, backed by tax exemptions.
Gems and jewellery are Thailand’s third largest export earner after the automotive and computing sectors, the fair said in a statement.
According to Commerce Minister, Sontirat Sontijirawong, Thai gem and jewellery exports, excluding gold, were up 2.25 percent in value terms year-on-year to nearly 13 billion dollars in 2017.
The Thai Ministry of Commerces Department of International Trade Promotion (DITP) officially opens the 61st Bangkok Gems and Jewelry Fair (BGJF.)
Related News: Coloured gemstones in the spotlight at CARAT+ with Paul Wild
Nilufer Kizilkaya, Creative Director of London-based colour gemstone jewellery brand GFG Jewellery by Nilufer, gave a well-attended seminar at the show on February 23 about the outlook for jewellery design trends in the UK and overseas markets. Kizilkaya will attend CARAT+ for the second time in May 2018.
The pink padparadscha sapphire engagement ring worn by Britain’s Princess Eugenie is likely to boost interest in pink sapphires, she said.
Words by David Brough
Discover more industry news on the CARAT+ website every week.
CARAT+ is The World’s Premier Diamond Event, covering the full spectrum of the diamond and diamond jewellery trades. The show specialises in four sectors: loose diamonds, branded diamond jewellery, non-branded diamond jewellery and services for the diamond jewellery industry.
Taking place in Hall 1 and Hall 4 of the Antwerp Expo on 6, 7 and 8 May, entry to the show is restricted exclusively to industry professionals, including diamond and jewellery wholesalers and manufacturers from around the world, and jewellery retailers from across Europe and the wider world.