Thailand has the 17th largest manufacturing
output and 28th biggest export volume in the world. The World
Bank Ease of Doing Business 2014 study also ranks Thailand as
18th in the world, one of the highest in East Asia and the Pacific.
These rankings are supported by direct
investment numbers. The AT Kearney Foreign Direct Investment Confidence
Index 2013 puts Thailand among the most attractive destinations
for investment in the Southeast Asia region. This comes as no
surprise since the global manufacturing Competitiveness Index
(GMCI) ranking of Thailand in 2013 placed it as the 11th most
competitive manufacturing nation in the world.
These strong standings suggest economic
grownth will continue in Thailand. We can all look forward to
what's in store, for surely the country has much more up its sleeve,
come 2015 when it starts to position itself as the centre of the
ASEAN Economic Community.
Thailand's pride comes from the Thai
artisanship that is more labour-intensive (hence, pricier than
China's) but also of the highest quality. With good supply of
resources, good government support through the Board of Investment,
and skilled workers. Thailand is really an ideal hub for establishing
a jewellery production line.
The Thai economy in 2014 is forecast
to grow at a slow pace due to the contraction of the economy in
the first quarter and the constraints on domestic demand recovery
in the latter half of the year, particularly consumping and private
investment affected by domestic political uncertainly as well
as the continued slowdown of household income and the overall
economy. Meanwhile, formation of the new goverment is expected
to be delayed, thereby imposing additional constraints on government
budget disbursement and on implementation of key economic measures.
Moreover, the slow global economic recovery tends to lower export
grownth than earlier anticipated. Nonetheless, the economic stability
remains sound. Inflation rate will be steady at a low level while
the trade and current account balance will improve from 2013.
Today Thai entrepreneurs are developing
and adding more value to thier products. From their initial staus
as original equipment manufacturing (OBM) businesses, they are
now shifting into original brand manufacturing(OBM), as seen in
the strong presence of Thai silver jewellery brands in the global
In general, Thailand is the world's leading
manufacturer and exporter of silver jewellery. According to the
statistics, Thailand has been the world's largest silver jewellery
exporter for over a decade, with the highest market share of around
20 percent. The latest export value during the 11-month peroid
in 2013 was at US$1,467.77 million.
Thailand’s five most important
markets include the United States, which is the top market with
the highest share of around 40 percent, followed by Germany, Australia,
Hong Kong, and the United Kingdom respectively. Other markets
that have high potential in silver jewellery export with over
100 percent grownth rate are Russia, South Korea and the United
Arab Emirates, which rank at 7th, 12th and 16th respectively in
the list. These numbers correspond to the information from some
Thai silver jewellers, who claim high grownth in the export value
to these markets.