Thailand's gem and jewellery industry is a significant contributor to the country's economy, with exports reaching US$6,643.65 million between January and September 2023, the Gem and Jewelry Institute of Thailand reported. These exports, which marked a 9.09% increase year-on-year ranking, are Thailand's third most vital, constituting 5.22% of the nation's gross exports. The demand for fine jewellery including coloured stones has been particularly strong overseas.
Thailand's jewellery exports showcase varied trends across markets. For instance, exports to Hong Kong have seen a surge in polished stones, gold jewellery, and silver jewellery. In contrast, exports to India increased in silver jewellery. Germany's demand for Thai jewellery has shifted, with a rise in costume or fashion jewellery. Exports of gold jewellery to the United Kingdom (UK) market have shown growth of 22.67%.
With fine jewellery occupying a significant share of Thailand's jewellery exports overall, businesses can jump on this opportunity and cater to this growing demand. Additionally, fashion and costume jewellery are also gaining traction in the global market, presenting an exciting opportunity for businesses. But first, understanding the steps to smooth international shipments is necessary.
Acceptable commodities
Thailand's diverse jewellery export range includes silver, gold, platinum jewellery, and costume/fashion jewellery. That said, you’ll need to pay attention to prohibitions and restrictions in the countries you’re shipping to. For instance, India requires that all imported jewellery be hallmarked, a process of certifying the purity of the metal. A certificate of origin may also be required.
It’s also crucial to be aware of counterfeit concerns, as both Thai customs and destination countries maintain strict regulations against fake certifications and counterfeit products. The United States, for example, prohibits the import of jewellery with counterfeit trademarks – these shipments can entail fines, detention and seizures. The vigilance against counterfeit items is rooted in the protection of intellectual property rights, consumer safety, and the prevention of fraudulent activities that can harm the economic landscape and consumer trust in the market. It is crucial for exporters to ensure authenticity and compliance to avoid these legal and financial repercussions.
Do note that counterfeit or fake jewellery is different from imitation or artificial jewellery.
Counterfeit jewellery involves the unauthorised use of another's trademark or design, implying a deceptive intent to pass off the items as genuine from a well-known brand, for example, producing jewellery using the style of well-known luxury brands such as Louis Vuitton, Chanel, and others without authorisation. In contrast, imitation or artificial jewellery openly acknowledges its nature – these are not original or precious items but are designed to emulate the appearance of high-end jewellery without any intent of deception, for example, diamond alternatives like Cubic Zirconia (CZ diamond) or crystal jewellery. Ensuring clarity and honesty about your products' nature is crucial in international trade to avoid legal issues and uphold your brand's integrity.
Note for DHL Express customers
DHL Express Thailand can help you ship bracelets, earrings, rings, watches, and necklaces embedded with diamonds, ruby, blue sapphire topaz and emerald to your loved ones or customers overseas. However, shipping these gems in a loose form is not permissible in DHL Express’ network.
Notably, silverware or silver accessories from Northern Thailand are popular items that we deliver internationally.
It is essential to provide an accurate transaction value of the goods. Undervaluing your shipments will not only result in shipment delays at customs clearance but also incur additional charges to release your goods.
Import taxes and duties of shipping jewellery
Preparing jewellery shipments for export involves costs such as import taxes and duties imposed by the destination country. For example, India places a 15% tax on gold imports, while jewellery exports to the European Union (EU) entail a standard 19% Value-Added Tax (VAT) plus a duty of 2% to 2.5%.
Duties and taxes are typically calculated based on the Harmonised System (HS) code, which classifies goods for international trade and determines the applicable tariffs. This code is essential in identifying the right tax rates and duties for your jewellery shipments.
Contact our customer service to navigate international tariffs and provide advice on the best ways to manage your shipping costs.