Thailand: Gemstone Hub Thrives Beyond Mines

Despite the exhaustion of its ruby and sapphire mines over three decades ago, Thailand continues to be a paramount center for the global colored gemstone trade. The nation's expertise in cutting, polishing, and treating gems sourced from Africa and Asia attracts a worldwide clientele, supplying major jewelry manufacturers and luxury brands.

In 2025, Thailand's gem and jewelry exports, excluding unwrought gold, surged by 41 percent to $13.6 billion. This sector constitutes nearly 8 percent of the country's total exports and provides employment for over 800,000 individuals across its supply chain.

The Bangkok Gems & Jewelry Fair, held annually in September, is a significant event, drawing more than 50,000 international buyers and facilitating over $174 million in trade. This fair, along with similar events in Hong Kong, concentrates industry professionals, enabling crucial face-to-face transactions and sourcing decisions.

Thailand's prominence in the gemstone trade dates back to the 14th century. While local mines were depleted by the 1990s, the country developed advanced processing capabilities, partly due to expertise brought by emigrants and its strategic access to stones from neighboring regions and increasingly, Africa.