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2 Mar 2005

Energy

Oil in the Year of Chicken: Imports of Over Bt600 Billion

คะแนนเฉลี่ย

Thailand's oil imports in 2005 should be closely monitored. The import value of oil in January 2005 jumped as much as 80 percent, year-on-year, from USD839 million to USD1.510 billion. Throughout last year, Thailand imported a staggering USD13.252 billion in oil, rising by 48.9 percent over the preceding year. The marked increase in oil imports has adversely affected the country's current account deficit. In January 2005, Thailand suffered a current account deficit of a staggering USD942 million, the highest level in seven years and nine months, or since the 1997 economic crisis. (In April 1997, Thailand posted a current account deficit of USD1.401 billion.)

In 2005, Thailand's oil imports are projected to total some USD16 billion (equivalent to approx. Bt600 billion), a year-on-year rise of 20.7 percent.

Thailand's Oil Imports, 1999-2005
Year
Value

(Million USD)
Ratio to (%)

Total Imports
Increase

(Million USD)
Increase

(%)
Av. Price of imported Oil

(USD/barrel)
Increase

(%)
19994,272 8.6 1,138 36.3 17.24 42.6
20006,834 11.0 2,562 60.0 26.53 53.9
20017,130 11.5 296 4.3 22.86 -13.8
20027,42211.6 292 4.1 23.91 4.6
20038,898 11.9 1,476 19.9 27.29 14.1
200413,252 14.0 4,354 48.9 33.83 24.0
2005*16,000 16.7 2,748 20.7 37.97 12.2

Source: KRC

Remarks: - Data from the Bank of Thailand

- Oil prices for 2004 are average prices of Oman crude.

- 2005 data is estimated figures.

Energy

Oil