Sale of Thai Jewelry Drops

The Bangkok Post reports that domestic sales of jewelry in Thailand dropped by half and exports rose by only 10% in comparison to last year.

According to the Jewelry Traders` Association, political tension in the country has kept tourists away, causing a 50% decline in the local sale of jewelry.

The export of jewelry grew by only 10%. The dwindling from the earlier forecast of a 20% rise presumably stemmed from an appreciation of the Thai currency, the US decision to revise its system of preferences, and the sub-prime crux in the real estate sector which has spread from the US to Europe.