PRECIOUS METALS | Thailand's Gem and Jewelry Exports Decline in February 2026

According to Jin10, Thailand's gem and jewelry exports, excluding gold, amounted to $1.62404 billion in February 2026, marking a 29.32% decrease compared to the same period last year. This decline reversed the growth observed in January. When including gold, the total export value reached $2.72777 billion, a decrease of 15.59%. For the first two months of 2026, exports excluding gold totaled $3.43216 billion, down 14.88%, while the total including gold rose by 18.92% to $7.29397 billion. Gold remained the standout category, with February exports alone reaching $1.10374 billion, an 18.22% increase, marking the seventh consecutive month of growth. Factors driving the increase in gold exports include rising international gold prices, geopolitical tensions between the U.S., Israel, and Iran, new tariffs imposed by the U.S. under Section 122, and continued purchases by the SPDR Gold Trust. In the first two months of the year, gold exports totaled $3.86181 billion, an 83.76% increase.