From Figure 2, the result suggests that Thai jewelry industry has faced fluctuating level of
comparative advantage over time from 3.32 in 2006 to 9.45 in 2007 and later decrease to 1.87 in
2009. The significantly high of comparative advantage is shown in 2007 since Thailand started to
export silver jewelry product (HS code 7106) to India and India also increased its demand for silver.
However, Thai jewelry industry faced the significant decrease in the level of comparative advantage
in 2009 due to the decrease in exporting silver products from Thailand to India. In addition, precious
stone and synthetic or reconstructed precious stone industry should have been promoted to export to
India since their RCA indices have been increased during the study period with the average RCA
indices at 15.75 and 31.18, respectively.