third-largest export category by value, trailing automotive and parts and computer components. In 2019, gem and jewelry exports, including gold, exceeded US$15.7 billion, up 30.3% from 2018 (486 billion baht, up 26.6%). Key export markets included ASEAN, India, the Middle East, and Hong Kong. The industry employs more than 700,000 workers according to the Gem and Jewelry Institute of Thailand (GIT). Energy Thailand's 2004 energy consumption was estimated at 3.4 quadrillion British thermal units, representing about 0.7 percent of total world energy consumption. Thailand is a net importer of oil and natural gas; however, the government is promoting ethanol to reduce imports of petroleum and the gasoline additive methyl tertiary butyl ether. In 2005 Thailand's daily oil consumption of exceeded its production of . Thailand's four oil refineries have a combined capacity of . The government is considering a regional oil-processing and transportation hub serving south-central China. In 2004, Thailand's natural-gas consumption of exceeded its production of . Thailand's 2004 estimated coal consumption of 30.4 million short tons exceeded its production of 22.1 million. As of January 2007, proven oil reserves totaled and proven natural-gas reserves were . In 2003, recoverable coal reserves totalled 1,493 million short tons. In 2005, Thailand used about 118 billion kilowatt hours of electricity. Consumption rose by 4.7 percent in 2006, to 133 billion kWh. According to the Electricity Generating Authority of Thailand (the national electricity utility), power consumption by residential users is increasing due to more favorable rates for residential customers than for the industry and business sectors. Thailand's electric utility and petroleum companies (also state-controlled) are being restructured. Services In 2007 the service sector (which includes tourism, banking and finance), contributed 44.7 percent of GDP and employed 37 percent of the workforce. Thailand's service industry is competitive, contributing to its export growth. Banking and finance Dangerous levels of non-performing assets at Thai banks helped trigger an attack on the baht by currency speculators which led to the Asian financial crisis in 1997–1998. By 2003, nonperforming assets had been cut in half (to about 30 percent). Despite a return to profitability, Thailand's banks continue to struggle with unrealized losses and inadequate capital. The government is considering reforms, including an integrated financial regulatory agency which would enable the Bank of Thailand to focus on monetary policy. In addition, the government is attempting to strengthen the financial sector through the consolidation of commercial, state- and foreign-owned